The world’s largest cryptocurrency exchange will briefly suspend some important services on the Ethereum (ETH) network this week.
It will also remove several trading pairs that no longer meet the required standards. Here’s everything users should know.
The Upcoming Disruption
Binance will perform wallet maintenance on the ETH network on October 28, and deposits and withdrawals on that blockchain will be temporarily unavailable during the process. The effort is scheduled to take about one hour, after which operations will resume.
As usual, the company assured that token trading on the network will not be affected and promised to handle all user-related technical requirements.
“Deposits and withdrawals for token(s) on the aforementioned network will be reopened once the upgraded network is deemed to be stable. No further announcement will be posted,” the announcement reads.
Binance has performed many similar wallet maintenance events this year, with no reports of issues or user complaints. In August, it temporarily paused transfers on the Ethereum network, while prior to that, it briefly suspended TRX deposits and withdrawals.
Goodbye to These Pairs
Besides the update regarding the Ethereum network, Binance revealed that it will delist the following spot trading pairs: AAVE/BTC, ATOM/BTC, CAKE/BTC, DASH/BTC, ETC/BTC, ICP/BTC, PENDLE/BTC, RENDER/BTC, TAO/BTC, THETA/BTC, XAUT/BTC and XTZ/BTC on October 30.
The decision follows a rigorous check of all listed pairs on the platform, as the exchange regularly checks whether they meet certain standards such as adequate liquidity and trading volume.
“The delisting of a spot trading pair does not affect the availability of the tokens on Binance Spot. Users can still trade the spot trading pair’s base and quote assets on other trading pair(s) that are available on Binance,” the entity explained.
In addition, Binance will say goodbye to ten margin trading pairs on the same date. Those in question include RE/USD1, 币安人生/U, KAT/U, BTC/USDS, ETH/USDS, AVNT/U, FET/U, TRUMP/U, APT/U, WLFI/U.
The announced delistings haven’t triggered major price moves for the involved cryptocurrencies. This is hardly surprising, as stronger market reactions typically occur when Binance discontinues all services for a given digital asset.
That was the case earlier this month, when the exchange removed Epic Chain (EPIC) and QuickSwap (QUICK), triggering severe crashes in both.
The post Binance Alerts Users: Ethereum Deposits Paused and Major Delistings Ahead appeared first on CryptoPotato.
