To ensure the smooth operation of its platform, Binance announced its decision to support the upcoming network upgrade of Ethereum Classic (ETC).
Binance Supports Ethereum Classic (ETC) Network Upgrade
The suspension of deposits and withdrawals for tokens on the Ethereum Classic network is scheduled to begin at 16:00 on February 4, 2024.
The Ethereum Classic network upgrade is scheduled to occur at block height 19,250,000 at approximately 16:50 on the same day. Binance users who trade tokens on the ETC network can rest assured that the network upgrade will not impact their trading activities.
Binance will manage all technical requirements related to the network upgrade to minimize disruptions for its users. The suspension of deposits and withdrawals is a temporary measure intended to facilitate a smooth transition during the upgrade process.
Once the network upgrade is complete and the upgraded network is considered stable, Binance will reopen deposits and withdrawals for tokens on the Ethereum Classic network.
As the cryptocurrency world continues to evolve, Binance's approach to supporting network upgrades is aligned with its mission to provide a safe and efficient trading environment for its global user base.
It is a reminder that token trading on the Ethereum Classic network will not be affected during this network upgrade.
*This is not investment advice.