Binance, one of the world’s leading cryptocurrency exchanges, has taken an important step. It announced support for upcoming network upgrades and hard forks for altcoin projects Sei (SEI), IOTA (IOTA), and Arweave (AR). The exchange aims to ensure a smooth transition for its users during these important developments.
First altcoin on the list: SEI upgrade
The Sei (SEI) network upgrade is planned to take place at block height 29,772,820, which is estimated to occur on October 3, 2023 at 18:00 UTC. To facilitate the upgrade process, Binance will temporarily suspend deposits and withdrawals of SEI tokens starting at 17:00 ET on the same day. It is important to note that trading of SEI tokens on the Binance platform will not be affected during this period.
Updates will also be made for IOTA and AR
7,669,900 IOTA (IOTA) network upgrade and hard fork scheduled to occur on October 4, 2023 at approximately 09:00 UTC. It will happen at the milestone. This upgrade will cause the total IOTA token supply to change to 4.6 billion. Binance will suspend deposits and withdrawals of IOTA tokens starting at 08:00 UTC on October 4, 2023. Similar to SEI, trading of IOTA tokens will continue uninterrupted on Binance.
On the other hand, Arweave (AR) network upgrade and hard fork are being processed on October 5, 2023. Because it will take place at approximately 10:00 CET at an altitude of 1,275,480 blocks. Deposits and withdrawals of AR tokens on the Binance platform will be temporarily suspended starting at 09:00 UTC on October 5, 2023. As with SEI and IOTA, AR trading activities will not be affected during this period.
When will the operations start?
Binance is committed to providing a seamless experience for its users during upgrades and hard forks. The exchange said it will meet all necessary technical requirements to facilitate the transition for its customers. Deposits and withdrawals for SEI, IOTA and AR will be reopened once the upgraded networks are stable. Binance emphasized its commitment to providing a seamless user experience. He also underlined that he would not make any further announcements regarding the resumption of these services.
As a result, Binance’s support for Sei, IOTA, and Arweave upgrades and hard forks is critical. It underlines the exchange’s commitment to its users and the broader cryptocurrency community. As we reported as Kriptokoin.com, Binance is the leader with daily transaction volume. This data reveals that for a long time the most transactions were made on Binance. As a result, the official statements of the stock exchange used by thousands of people are of great importance in the market.
