Cryptocurrency exchange Binance has announced it will support the planned network upgrade on the Moonbeam (GLMR) network. According to the announcement, to protect user experience and ensure a smooth technical process, token deposits and withdrawals on the GLMR network will be temporarily suspended starting May 20, 2026, at 3:00 PM.
According to Binance, the Moonbeam network upgrade will take place in approximately one hour, on May 20, 2026, at 4:00 PM, at block height 15,689,298. The exchange stated that it will handle all necessary technical operations on behalf of users during the network update, and users will not need to perform any manual actions.
One important detail is that the network upgrade will only affect deposit and withdrawal transactions. Binance emphasized that trading of the GLMR token on the platform will not be affected by this process. Users will be able to continue buying and selling their Moonbeam-based assets during the upgrade.
The exchange announced that deposit and withdrawal services will be automatically reopened after the network update is complete and the system is confirmed to be stable. It was also specifically stated that no further announcements will be issued regarding this matter.
Moonbeam stands out as a significant smart contract platform operating on the Polkadot ecosystem and providing Ethereum compatibility. The upcoming upgrade is expected to improve network performance, security, and transaction efficiency.
Experts say that such planned network upgrades are critical for the sustainability of blockchain networks. Binance’s support is seen as an important sign that institutional confidence in the Moonbeam ecosystem continues and that the platform’s technical development is being closely monitored.
*This is not investment advice.
