The much-anticipated Ethereum Merge is set to go live today at approximately 04:00 UTC, triggered by the Terminal Total Difficulty (TTD) reaching 58,750,000,000,000,000,000 following the Bellatrix upgrade. As this historic network transition unfolds—from proof-of-work (PoW) to proof-of-stake (PoS)—crypto platforms worldwide are adjusting operations to ensure user safety and network integrity.
At BitMEX, protecting customer assets remains our top priority. In anticipation of potential network instability during the transition, we will temporarily suspend withdrawals of ETH, all ERC20-based assets, and USDT across all networks. This precaution is directly tied to how we manage cross-chain fungibility for these digital assets.
What Users Need to Know Before the Merge
To help users navigate this pivotal moment in blockchain history, here’s a clear breakdown of BitMEX’s operational updates and key considerations during the Ethereum Merge.
🔒 Temporary Suspension of Withdrawals
During the Merge:
- ETH, all ERC20 tokens, and USDT withdrawals will be paused across all supported networks.
This includes Ethereum mainnet and any Layer-2 or sidechain integrations where these assets are available. - Deposits of ETH, ERC20 tokens, and USDT are strongly discouraged.
While deposits may still be processed depending on network conditions, users are advised not to send funds during the transition window to avoid potential loss or misrouting due to chain reorganizations or forks.
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✅ Trading Remains Fully Operational
Despite withdrawal restrictions:
- Spot and derivatives trading for ETH and related assets will continue uninterrupted.
Users can open, close, or manage positions as usual. Market depth and liquidity remain robust, ensuring smooth execution even amid heightened volatility. - Index pricing will remain stable thanks to our Index Protection Rules.
These mechanisms use prices from constituent spot exchanges to deliver fair and accurate mark prices, minimizing manipulation risks during turbulent periods.
🧩 Asset Identity Preservation
Post-Merge clarity is essential for user confidence:
- ETH will retain its original asset ID and ticker name.
There will be no change in how ETH is represented on our platform—users do not need to take action to “convert” or “upgrade” their holdings. - All ERC20 tokens built on Ethereum will keep their current names and identifiers.
This includes major stablecoins like USDT, as well as utility and governance tokens. No rebranding or token swaps are expected under the new PoS consensus.
Managing Risk During High Volatility
The Ethereum Merge represents one of the most complex upgrades in blockchain history. Even with extensive testing, increased price volatility and short-term market uncertainty are expected.
Traders should:
- Use stop-loss orders and position sizing to manage downside risk.
- Monitor gas fees and confirmation times if interacting with external wallets.
- Avoid leveraged positions that could be vulnerable to sudden liquidations.
BitMEX reserves the right to temporarily adjust index compositions or update pricing mechanisms if abnormal market behavior occurs. These measures are designed to preserve market fairness and prevent systemic risks.
Potential Ethereum PoW Fork: What Happens Next?
After the Merge completes, there is a possibility that a proof-of-work (PoW) version of Ethereum may persist as a separate chain—commonly referred to as "EthereumPoW" or ETHW.
Will BitMEX Support the Forked Chain?
- Any decision to list a forked ETH PoW asset will be evaluated based on economic viability, community demand, and technical feasibility.
- A snapshot of user balances will be taken at the time of the Merge to determine eligibility should airdrops or distributions occur.
- However, support is not guaranteed, nor is distribution automatically safe or practical. BitMEX will only proceed if it can ensure user security and regulatory compliance.
If you wish to participate in potential fork activities—such as claiming tokens on the PoW chain—we strongly recommend withdrawing your funds to a self-custody wallet before the Merge.
👉 Explore secure ways to manage multi-chain assets after network splits.
Core Keywords for Clarity & SEO
To align with user search intent and improve discoverability, here are the primary keywords naturally integrated throughout this update:
- Ethereum Merge
- ETH withdrawal pause
- ERC20 asset handling
- USDT deposit rules
- Ethereum PoW fork
- Crypto exchange safety
- Network upgrade precautions
- BitMEX trading update
These terms reflect common queries users have when navigating major blockchain transitions, ensuring this content serves both educational and informational needs.
Frequently Asked Questions (FAQ)
Q: Why are ETH and ERC20 withdrawals being suspended?
A: The temporary pause protects users from risks associated with chain reorganization, double-spending attempts, or invalid transactions during the consensus switch. It ensures all withdrawals occur on the canonical (main) chain once stability is confirmed.
Q: Can I still trade ETH and USDT during the Merge?
A: Yes. Spot and derivatives trading will continue normally. Only deposit and withdrawal functions for ETH, ERC20s, and USDT are affected.
Q: Will my ETH turn into a different token after the Merge?
A: No. ETH remains ETH. The asset name, symbol, and contract address stay unchanged. You don’t need to do anything to “upgrade” your holdings.
Q: What is a PoW fork, and will I get free tokens?
A: A PoW fork occurs when miners continue supporting the old Ethereum chain using proof-of-work. If such a chain gains value, some exchanges may distribute forked tokens. BitMEX has not confirmed support and will assess it post-Merge.
Q: Should I withdraw my funds before the Merge?
A: If you want control over potential forked tokens or are concerned about temporary service limitations, moving funds to a self-hosted wallet is advisable. Otherwise, keeping funds on BitMEX is secure.
Q: When will withdrawals resume?
A: Withdrawals will restart once network stability is verified post-Merge—typically within 24 to 48 hours, but timelines depend on real-time blockchain performance.
Final Thoughts: Staying Safe During Blockchain Evolution
The Ethereum Merge marks a transformative leap toward scalability, sustainability, and security. While exciting, such transitions require caution. Exchanges like BitMEX implement safeguards not to disrupt service—but to protect users from unforeseen technical edge cases.
By pausing withdrawals temporarily, maintaining trading continuity, and preparing for possible forks, we aim to balance innovation with responsibility.
For full details on our Ethereum Merge protocols, visit our official blog. For immediate assistance, contact support directly through your account dashboard.
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