Binance, one of the leading cryptocurrency exchanges, announced that it supports the upcoming Stacks (STX) network upgrade and Hard Fork.
Cryptocurrency Exchange Binance Will Support Stacks (STX) Update
The Stacks network upgrade and Hard Fork are scheduled to occur at block height 791,551, which is expected to occur around 01:00 AM 2023-05-26. In preparation for this event, Binance will temporarily suspend deposits and withdrawals of STX from approximately 2023-05-26 00:00.
The Stacks network upgrade and Hard Fork represent a significant development for the Stacks blockchain ecosystem.
A protocol built on top of the Bitcoin network, Stacks aims to enable the development of smart contracts and decentralized applications (dApps) using the security and stability of Bitcoin.
The upcoming upgrade and Hard Fork are expected to bring new features, enhancements and improvements to the Stacks network, further strengthening its capabilities and expanding its potential uses.
To ensure smooth network upgrade and Hard Fork operations, Binance will temporarily suspend deposits and withdrawals from STX.
This precaution has been taken to avoid any glitches or inconsistencies during the upgrade process.
Users are advised to complete the necessary STX transactions and account setup before the suspension takes effect to avoid any inconvenience.
Binance's support for the Stacks network upgrade and Hard Fork reaffirms its commitment to providing its users with a reliable and secure trading environment.
Upon completion of the network upgrade and Hard Fork, Binance will resume STX deposits and withdrawals as soon as the upgraded network is deemed stable and secure.
*Not investment advice.