Binance Announces Temporary Suspension of Ethereum Withdrawals and Deposits
Binance is set to halt Ethereum deposits and withdrawals during a scheduled network upgrade, though trading will remain unaffected.
The largest cryptocurrency exchange, Binance, will initiate a temporary halt on withdrawals and deposits within the Ethereum network this week due to an upgrade scheduled for March 10. During this time, token trading on the network is expected to remain unaffected, according to the exchange.
Upcoming Changes
The Ethereum network upgrade is expected to last approximately one hour, post which all operations will resume as normal once the system’s functionality is confirmed. Binance has reassured its users that trading in the ecosystem will proceed uninterrupted and will manage all technical requirements related to user support. It intends to make no additional announcements regarding this upgrade.
This pause in Ethereum operations is a routine measure for Binance, previously implemented during various upgrades across different platforms including Cardano and BNB Smart Chain.
In a further update on March 9, Binance confirmed the introduction of new trading pairs including BCH/U, NEAR/U, and TRX/U, set to go live on March 10 alongside Trading Bots support.
Delisting Procedures
Additionally, the exchange has announced the removal of several trading pairs that no longer meet its standards. As of March 5, pairs including CHZ/BTC and UNI/ETH have been delisted, among others. Delisting often negatively impacts the price of the specific cryptocurrencies involved, as seen with past announcements.
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For more updates, visit the official Binance page regarding upcoming changes.
