Binance Halts ENJ Deposits and Withdrawals for Major Network Upgrade

Binance, the world's largest cryptocurrency exchange by trading volume, has announced its intention to temporarily halt deposits and withdrawals of Enjin Coin (ENJ) on its platform. This decision is part of a necessary network upgrade scheduled for February 24, 2025, at 23:00 (UTC+8). The upgrade is expected to occur at a critical block height of 9,098,986, which is projected to take place shortly after midnight on February 25, 2025.

The primary goal of this upgrade is to enhance the overall functionality and security of the Enjin Coin network. By suspending deposits and withdrawals during this period, Binance aims to ensure a seamless experience for users post-upgrade. Stakeholders and traders are advised to prepare accordingly, as the downtime may impact their operational activities within the cryptocurrency market during this period.

It is crucial for investors to remain vigilant and monitor the implications of such network changes on Enjin Coin's performance. As the upgrade progresses, any potential impacts on the coin's value and market position should be closely tracked to make informed investment decisions.