Binance Announces Support for BNB Smart Chain (BEP20) Network Upgrade and Hard Fork

Binance to Support BNB Smart Chain (BEP20) Network Upgrade and Hard Fork

Leading cryptocurrency exchange, Binance, has announced its support for the upcoming BNB Smart Chain (BEP20) network upgrade and hard fork, according to a recent announcement on its website. The upgrade is aimed at enhancing the user experience on the platform.

Preparation for the Network Upgrade

In preparation for the BNB Smart Chain (BEP20) network upgrade, Binance will conduct wallet maintenance for the BNB Smart Chain (BEP20) at 07:00 (UTC) on May 28, 2024. To facilitate this, deposits and withdrawals on the BNB Smart Chain (BEP20) will be suspended from 06:55 (UTC) on the same day, and will resume once the maintenance is completed, which is expected to take about two hours.

The BNB Smart Chain (BEP20) Network Upgrade and Hard Fork

The BNB Smart Chain (BEP20) network upgrade and hard fork will occur at 06:05 (UTC) on June 20, 2024. Subsequently, Binance will suspend deposits and withdrawals of tokens on the BNB Smart Chain (BEP20) starting from 05:55 (UTC) on the same day.

Important Notes

It’s worth noting that trading of tokens on the affected network will not be impacted during this period. Also, Binance will handle all technical requirements for all users. The reopening of deposits and withdrawals for tokens on the network will be done once the upgraded network is deemed stable, without further announcements. Binance has urged users to refer to the original version of this English announcement for the latest and most accurate information where discrepancies may arise.

In conclusion, as digital asset prices are subject to high market risk and volatility, Binance has reminded its users to only invest in products they understand and where they comprehend the risks involved. The platform also advised its users to consult an independent financial adviser before making any investment decisions.

Image source: Shutterstock

. . .

Tags