Ethereum (ETH) Withdrawals to Be Temporarily Suspended by Binance, Here's Why – U.Today

0

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Top crypto exchange Binance brings to the attention of Ethereum network users an important development that might impact deposits and withdrawals on a specific date: the crypto exchange will be performing its routine wallet maintenance.
In an official announcement, Binance says it will perform wallet maintenance for the Ethereum network (ERC20) on Oct. 24 at 7:00 a.m. (UTC). The maintenance will take about two hours.
#Binance will perform wallet maintenance for the Ethereum network (ERC20) on 24 October 2023, at 07:00am UTC.https://t.co/Y3dbHjziIO
In light of this, Binance says deposits and withdrawals on the Ethereum network (ERC20) will be suspended on Oct. 24 starting at 6:55 a.m. (UTC). Meanwhile, the trading of digital assets and currencies on the Ethereum network (ERC20) will not be impacted during wallet maintenance.
Earlier in the week, on Oct. 18, Binance performed its wallet maintenance on the Tron network. In an announcement about the development, Binance urged users not to panic as they might notice large transactions from its TRX hot wallet as a result.
Data from IntoTheBlock indicates that a new milestone has been reached for Ethereum in terms of crypto adoption. Ethereum has crossed 100 million addresses with a balance.
Ethereum’s “billionaire” wallets are also picking up steam, holding nearly a third of the supply for the first time in seven years.

Related
Crypto Whale Longing Ethereum (ETH) in Fix as Liquidation Beckons

For the first time since July 16, whale addresses with over one million ETH possess 32.3% of the supply, according to Santiment, indicating increased accumulation.
On Oct. 16, ETH transactions that exceeded $1 million had their second highest day in a month.
At the time of writing, ETH was up 4.37% in the last 24 hours to $1,615. 
Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
Once a day we send:
Disclaimer: The opinions expressed here are not investment advice; they are provided for informational purposes only. The opinions expressed by our writers are their own and do not represent the views of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. We do not recommend investing money you cannot afford to lose.

source

Leave a Reply

Your email address will not be published. Required fields are marked *