Binance will support Ethereum hardfork and Stacks update

On Monday, December 6, the price of bitcoin is falling. As of 09:55 MSK, the first cryptocurrency is trading at $48,386.58 (-1.89%), according to CoinMarketCap. Bitcoin's sharp collapse occurred on Saturday, when the rate fell to $45,000.

Ether fell to $4109.53 (-2.78%). Binance Coin fell 4.84% to $547.26.

"The cryptocurrency market experienced a shock shaking on Saturday morning. Low trading activity and previous rather narrow trading range created situation, when stop orders were pulled close to the market. As a result, the unidirectional movement following the US stock indices has triggered a snowball effect in theThe price of the market fell to $42,000 in the early morning. The fall below Friday's lows of $52,000 caused a sharp liquidation of positions in the market, with the price falling to $42,000 in the moment.
Other altcoins also fell by 10-25% as investors still couldn't stay away from such a high-profile liquidation. By the end of the day, buyers brought BTC/USD back to $48,000, but they never had the strength to push it above $50,000. On the theanalysis side, bitcoin is experiencing a crucial moment. The bulls managed to get the quotes back neatly above the 200-day moving average and the RSI index touched the 20 level, indicating oversold.
StabilizeThe rate will be higher and even a small pullback will form a positive picture that the bulls managed to defend the global growth trend. If the rate by results of Monday will fix lower than $48 000, it will be a signal that bears did not finish the game, and it is necessary to expect the further decrease, probably, in area of $40 000".

Bitcoin exchange Binance has announced support for the Arrow Glacier hardforge on the Ethereum network, which will take place on block #13,773,000 around December 9, 2021.

The update will see the implementation of a single proposal to improve the Ethereum networkEIP-4345. It introduces a postponement of the activation of the "difficulty bomb" until May 2022.

A new test network on the Proof-of-Work consensus algorithm called Sepolia will also be launched.

The Binance team has warned that five minutes before the hardfork will closet deposits and withdrawals for all tokens on the Ethereum blockchain. Asset trading will not be affected by the event. No new tokens will appear based on its results.

The ability to make deposits and withdraw assets will open when the specialisthe exchanges will be convinced of the stability of the renewed network.

Binance also announced support for the SIP-012 update on the Stacks network. It will take place on bitcoin block #713,000 on Tuesday, December 7, at approximately 2:00 AM MSC.

Native Token Deposits and Withdrawals STX exchange will discontinue one hour before the update. The team will return the features after it considers the network to be stable.

Recall, in early December, Binance annotated support for "network updates and hardforces" projects Avalanche, Tezos and Theta Network.

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