Binance Suspends Deposits, Withdrawals for Ethereum Upgrade

Binance, one of the world's leading cryptocurrency exchanges, has announced that it will support the upcoming Ethereum network upgrade and hard fork. The exchange will suspend token deposits and withdrawals for several networks, including Ethereum (ETH), Arbitrum (ARB), Optimism (OP), zkSync Era (ZKSYNC), Base (BASE), Manta Network (MANTA), Starknet (STRK), Polygon (POL), Metis (METIS), Scroll (SCR), Cyber (CYBER), Metal DAO (MTL), Celo (CELO), and Worldcoin (WLD). This suspension is scheduled to begin on May 7, 2025, at 17:45 (UTC+8) and will last until the network upgrade and hard fork is completed at 18:05 (UTC+8).

This move by Binance is aimed at ensuring the smooth execution of the Ethereum network upgrade and hard fork. The upgrade is expected to bring significant improvements to the Ethereum network, including enhanced security, scalability, and efficiency. By suspending token deposits and withdrawals, Binance is taking a proactive approach to mitigate any potential disruptions that may arise during the upgrade process. This decision underscores Binance's commitment to providing a reliable and secure trading environment for its users.

The Ethereum network upgrade and hard fork is a critical event for the cryptocurrency community. It represents a significant step forward in the evolution of the Ethereum blockchain, which has been plagued by scalability issues and high transaction fees. The upgrade is expected to address these challenges by implementing new technologies and protocols that will improve the network's performance and usability. Binance's support for this upgrade is a testament to its dedication to staying at the forefront of technological advancements in the cryptocurrency industry.

For users of the affected networks, the suspension of token deposits and withdrawals may cause temporary inconvenience. However, it is important to note that this measure is being taken to ensure the stability and security of the networks during the upgrade process. Users are advised to plan their transactions accordingly and to stay informed about the latest developments regarding the Ethereum network upgrade and hard fork. Binance will provide updates and guidance to its users as the upgrade progresses, ensuring that they are well-prepared for any changes that may occur.

In conclusion, Binance's decision to support the Ethereum network upgrade and hard fork is a strategic move that demonstrates its commitment to innovation and user satisfaction. By taking proactive measures to ensure the smooth execution of the upgrade, Binance is positioning itself as a leader in the cryptocurrency exchange industry. This event marks an important milestone in the evolution of the Ethereum network and highlights the ongoing efforts to improve the scalability and efficiency of blockchain technology.