Rebeca Moen
Aug 20, 2024 07:22
Binance to suspend deposits and withdrawals for Injective (INJ) network during its upgrade and hard fork on August 20, 2024.
Binance, one of the world’s leading cryptocurrency exchanges, has announced its support for the upcoming Injective (INJ) network upgrade and hard fork, scheduled to take place on August 20, 2024. This development aims to enhance the network’s overall performance and security.
Details of the Upgrade
According to Binance, the upgrade will occur at the block height of 82,830,000, which is estimated to be around 15:00 (UTC) on the same day. To facilitate this process, Binance will suspend deposits and withdrawals of INJ tokens starting at approximately 14:00 (UTC) on August 20, 2024.
Impact on Trading
Binance has assured users that the trading of INJ tokens will not be affected during the upgrade. The exchange will handle all technical requirements to ensure a smooth transition. Deposits and withdrawals will resume once the upgraded network is stable.
Technical Preparations
Binance has confirmed that it will manage all technical aspects related to the upgrade, eliminating the need for users to take any action. The exchange also noted that no further announcements would be made regarding the reopening of deposits and withdrawals, implying that users should stay updated via the platform for the latest information.
Additional Information
For more details, users can refer to the official announcement from the Injective project team. Binance’s support for this upgrade underscores its commitment to providing a seamless trading experience for its users.
Binance reserves the right to amend or cancel this announcement at any time without prior notice. Users are advised to exercise caution and conduct their own research before making any investment decisions, as digital asset prices are subject to high market risk and volatility.
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