In a month, Ethereum will transition from a Proof-of-Work (PoW) to a Proof-of-Stake (PoS) consensus also famous as "The Merge". As it is one of the biggest events for the blockchain community, Users, exchange platforms, miners, and developers are gearing up for the event.
One of the Major crypto exchange platforms Coinbase recently announced that it will pause transactions with Ethereum and with tokens using the ERC-20 standards, these include deposits and withdrawals ahead of the Ethereum “Merge”, in an official post.
In the post, Coinbase stated "We recommend you don’t send your ETH to anyone in an attempt to “upgrade to ETH2” as there is no ETH2 token. Your assets will be safe and secure during this period and no action is required to upgrade on your part."
The ETH2 ticker will represent staked ETH ahead of “The Merge”. This ticker will be removed once the PoS transition is completed