Binance, a leading cryptocurrency exchange, announced that it plans to suspend deposits and withdrawals of AR tokens starting approximately March 26, 2024 at 16:00, in order to support the upcoming network upgrade and Hard Fork of the Arweave (AR) network.
Binance Prepares for Arweave (AR) Network Upgrade and Hard Fork
The network upgrade and hard fork is estimated to occur around 17:00 on March 26, 2024, at block height 1,391,330.
With its decision to temporarily suspend AR token deposits and withdrawals, Binance aims to facilitate a smooth transition for users during this critical period.
Despite the suspension of deposits and withdrawals, Binance reassures its users that AR token trading on the platform will not be affected.
This move underlines Binance's commitment to maintaining uninterrupted trading services for its global user base.
Additionally, Binance has committed to managing all technical requirements regarding the upgrade on behalf of its users.
By taking on this responsibility, the exchange aims to alleviate any potential concerns regarding the upgrade process and ensure a seamless experience for investors.
Once the upgraded network is deemed stable, Binance will reopen deposits and withdrawals for AR tokens.
However, the exchange announced that no further announcements would be made on this matter, signaling its confidence in the post-fork stability of the upgraded network.
*This is not investment advice.
