Binance Suspends INJ Deposits and Withdrawals for Network Upgrade

Binance has announced the temporary suspension of Injective (INJ) deposits and withdrawals to support a scheduled network upgrade. The maintenance, set to begin tonight, is part of a broader initiative to improve the network's security, scalability, and transaction speed. The suspension will last for several hours, depending on the progress of the upgrade, and users are advised to avoid initiating INJ transactions during this period to prevent potential delays or fund loss [1].

The network upgrade is expected to bring significant improvements, including a 30% increase in transaction speed, enhanced security protocols, and expanded network capacity. These changes are critical for supporting Injective’s long-term growth and strengthening its position in the decentralized finance (DeFi) ecosystem. Analysts from COINOTAG emphasize that such maintenance is a standard and necessary procedure for maintaining network integrity and ensuring future stability [1].

According to Binance’s official communication, the upgrade process requires the temporary halt of INJ-related transactions to facilitate the integration of new features and infrastructure improvements. Once the upgrade is complete, deposits and withdrawals will resume, and users are encouraged to monitor Binance and Injective’s official channels for real-time updates [1].

For INJ holders, the recommended course of action is to complete any urgent transactions prior to the suspension period. During the maintenance window, users should refrain from sending or receiving INJ to avoid potential complications. COINOTAG advises investors to treat this suspension as a routine but essential maintenance event that aligns with best practices in blockchain network management [1].

As the upgrade proceeds, the Injective network is expected to emerge with stronger capabilities to handle increased transaction volumes and more robust defenses against potential vulnerabilities. This marks a key development for the Injective ecosystem, with the potential to attract greater participation from developers and users in the DeFi space [1].

Binance will resume INJ deposits and withdrawals shortly after the upgrade is finalized. The exact timing of the resumption will be communicated through official channels. Users are encouraged to stay informed through Binance and Injective’s official announcements to ensure they remain aligned with the network’s progress [1].

Source: [1] Binance to Suspend Injective (INJ) Deposits and Withdrawals Tonight for Network Upgrade (https://en.coinotag.com/breakingnews/binance-to-suspend-injective-inj-deposits-and-withdrawals-tonight-for-network-upgrade/)