As a seasoned crypto investor, I’ve gone through my fair share of exchange maintenance and updates. Binance’s upcoming Ethereum (ETH) network wallet maintenance on May 29 is something that I’ve grown accustomed to. While it may seem inconvenient to have deposits and withdrawals suspended temporarily, I understand that such measures are necessary for the continuous improvement of the platform.


TL;DR

    Binance will temporarily suspend ETH deposits and withdrawals for two hours during wallet maintenance.
    The company regularly updates its platform by adding new trading pairs and delisting certain cryptocurrencies due to security or liquidity issues, continuously aiming to enhance user experience.

The Upcoming Development

As a crypto investor, I’d like to share that the largest cryptocurrency exchange globally will be conducting routine maintenance on the Ethereum (ETH) network wallets on May 29th. The expected duration of this process is around two hours.

Binance will momentarily halt deposits and withdrawals on the Ethereum network to facilitate its advancement. Operations are expected to recommence when all necessary processes have been completed.

The company guarantees that the trading of assets on the previously mentioned platform will remain unaffected. They pledge to manage all technical user-related necessities.

Users should be cautious and treat any information they find about the above topic beyond Binance’s announcement with skepticism.

Previous Similar Efforts

Previously this year, the exchange had to momentarily suspend Solana (SOL) withdrawals due to an elevated number of transactions on its network. Apologies were extended to affected clients for any inconvenience caused, and normal services were resumed a few days afterwards.

Binance regularly enhances its platform to align with current market developments, aiming to enhance user experience. The latest advancements include the addition of new trading pairs on Binance Spot: PEPE/EURO, AR/FDUSD, ENA/EUR, REZ/USDC, and TRB/FDUSD. Furthermore, Binance now supports trading bot services for these pairs: PEPE/EURO, BB/USDT, NOT/USDT, AR/FDUSD, ENA/EUR, PEPE/EUR, REZ/USDC, and TRB/FDUSD.

Before that, the firm introduced the XRP/JPY, SHIB/JPY, ADA/JPY, and SOL/JPY trading pairs on Binance Spot and made transactions easier for Mexican users by introducing a direct USDT-MXN pair.

The company has been considering delisting certain cryptocurrencies due to security issues or insufficient liquidity. In February, they halted trading services for Monero (XMR), Aragon (ANT), Multichain (MULTI), and Vai (VAI).

Earlier this month, Binance announced that it will discontinue support for Ripple’s XRP and the stablecoin TUSD as margin assets in the Multi-Assets Mode. The amendment is scheduled to come into effect today (May 28) and any remaining XRP and TUSD balances in futures wallets will be automatically converted to USDT. 

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2024-05-28 19:48