Users Unaffected as Binance Pauses NEAR Deposits for Major Upgrade

Binance has announced a strategic suspension of deposits and withdrawals on the NEAR Protocol network ahead of a critical upgrade and hard fork scheduled for August 18, 2025, at 04:00 CEST. The exchange will pause these services starting at 03:00 CEST to facilitate a seamless transition, while trading of NEAR tokens will remain uninterrupted during the processNear Protocol Set for Major Upgrade as Binance Handles All Technical Steps^[1]. This coordinated effort aims to enhance the protocol’s performance, security, and scalability, aligning with NEAR Protocol’s ongoing commitment to maintaining its position as a high-performance blockchain platformBINANCE TH Will Support the Near Protocol (NEAR) Network Upgrade & Hard Fork^[2].

The upgrade, a routine enhancement for the protocol, underscores the competitive pressures within the blockchain sector to improve user experience and technical capabilities. NEAR Protocol, known for its low transaction fees and scalable architecture, has historically prioritized regular upgrades to address evolving market demandsKey Details of Upcoming Near Protocol Upgrade on Binance^[3]. Binance’s involvement ensures that users are shielded from the technical complexities typically associated with such network transitions. The exchange emphasized that no user action is required, and normal operations will resume once the upgraded network stabilizesNear Protocol Set for Major Upgrade as Binance Handles All Technical Steps^[1].

Regional variations in the timeline highlight Binance’s global operational adjustments. For instance, BINANCE TH will suspend deposits and withdrawals from 07:00 AM UTC+7 on August 18, with the hard fork occurring at 08:00 AM UTC+7 in the same regionBINANCE TH Will Support the Near Protocol (NEAR) Network Upgrade & Hard Fork^[2]. This localized approach reflects the exchange’s effort to accommodate diverse user bases while maintaining uniformity in service continuity.

The strategic pause by Binance is not an isolated incident but part of a broader trend in blockchain governance. Protocols like NEAR often collaborate with major exchanges to mitigate disruptions during upgrades, leveraging institutional infrastructure to ensure network resilience. Analysts note that such partnerships are critical for maintaining user trust in decentralized systems, where even minor disruptions can erode confidenceKey Details of Upcoming Near Protocol Upgrade on Binance^[3].

The August 2025 upgrade further solidifies NEAR Protocol’s focus on long-term competitiveness. By addressing scalability and security—key pain points in blockchain adoption—the protocol aims to attract both developers and end-users seeking robust infrastructureNear Protocol Set for Major Upgrade as Binance Handles All Technical Steps^[1]. Binance’s role in this process highlights the growing interdependence between blockchain protocols and centralized exchanges in executing large-scale network improvementsBINANCE TH Will Support the Near Protocol (NEAR) Network Upgrade & Hard Fork^[2].