Binance Suspends EOS Transactions for Upgrade

Cryptocurrency exchange Binance has informed its users about an upcoming enhancement to the EOS network. A scheduled upgrade and hard fork will occur on September 25, 2024, at 16:00 UTC. In preparation, Binance will halt deposit and withdrawal functionalities on the EOS network to facilitate the process. This move intends to bolster transaction safety and improve the overall user experience.

Contents hide 1 How Will Deposit and Withdrawal Operations Be Affected? 2 What Should Users Expect Post-Upgrade?

How Will Deposit and Withdrawal Operations Be Affected?

The scheduled EOS network update will officially commence at 17:00 UTC. During this period, EOS network users will not experience any disruptions in trading activities. Binance has assured users that it will manage all technical aspects and closely oversee the upgrade’s progress. Users are advised to remain calm as their assets will be secure throughout the process.

What Should Users Expect Post-Upgrade?

Following the completion of the EOS network upgrade and hard fork, Binance will reinstate deposit and withdrawal services. However, the exact timeline for resuming these operations remains unspecified. Binance is prioritizing network stability and security before reopening. Users are encouraged to monitor Binance’s announcements to remain informed of any updates.

Regular maintenance and upgrades are crucial for ensuring the seamless functioning of blockchain networks. Binance emphasizes that while these activities are ongoing, the trading on the platform will remain stable. Users are advised to pause any transactions during the upgrade period and to consult official Binance channels for the latest updates.

Key points to note include:

• The upgrade aims to enhance transaction security and user experience.
• Trading activities on the EOS network will remain unaffected.
• No immediate reopening timeline for deposits and withdrawals has been announced.
• Users should refer to Binance’s official sources for further updates.

Once the EOS network operations resume, users will again be able to perform deposits and withdrawals as usual. Staying updated with Binance’s communications will help users navigate any temporary changes seamlessly, ensuring they experience minimal disturbance during the upgrade process.

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