ChainCatcher reports that according to an official announcement, Binance will temporarily suspend IOTA (IOTA) token deposits and withdrawals on its network starting May 5, 2025, at 14:00 (UTC+8). This suspension is to facilitate the network's upcoming upgrade and hard fork.
The project team plans to execute the network upgrade and hard fork at approximately 15:00 (UTC+8) on the same day.
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Key Details
- Suspension Period: Deposits/withdrawals paused from 14:00 (UTC+8).
- Upgrade Time: Hard fork begins around 15:00 (UTC+8).
- Impact: Transactions involving IOTA will be temporarily halted during this window.
FAQs
Q: When will IOTA services resume?
A: Binance will reopen deposits/withdrawals once the network stabilizes post-upgrade.
Q: Is my IOTA safe during the upgrade?
A: Yes, funds remain secure. Only network transactions are paused.
Q: Will trading be affected?
A: Spot and futures trading will continue unless otherwise notified.
Why This Matters
Network upgrades often introduce scalability improvements or new features. IOTA’s upgrade aims to enhance its distributed ledger technology, potentially boosting transaction efficiency.
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Keywords
- IOTA
- Binance
- Hard fork
- Network upgrade
- Cryptocurrency
- Blockchain
Note: Always conduct independent research before making investment decisions.
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