One of the largest cryptocurrency exchanges by trading volume, Binance, announced that it will suspend deposit and withdrawal services for the PIVX (PIVX) network. This temporary suspension is to support the network upgrade and hard fork that is planned to occur today.
Deposit and Withdrawal Services to Be Suspended
Binance will support the PIVX network upgrade and hard fork, which is scheduled to happen today at 15:00 TRT. The cryptocurrency exchange will temporarily suspend deposit and withdrawal services for the PIVX network, including the PIVX token and other tokens operating on the network.
Binance will implement the suspension of deposit and withdrawal services at 14:00 to facilitate the smooth implementation of the network upgrade and to prevent any inconvenience to users during this process.
During the network upgrade and hard fork, Binance users will be able to continue trading PIVX and other tokens available for deposit and withdrawal on the network without any interruption. Binance will handle all technical requirements for the upgrade on behalf of its users.
Deposit and Withdrawal Services to Restart After Upgrade
The upgrade marks a significant milestone for the PIVX network, set to occur at block height 4,281,680. The cryptocurrency exchange does not provide a specific timeline for the resumption of deposit and withdrawal services but indicates it will wait until the network is confirmed to be running smoothly. Accordingly, Binance will restart deposit and withdrawal services for the PIVX network once the upgraded network is deemed stable.
This announcement is part of Binance’s commitment to ensuring the security and reliability of its platform for users. By proactively supporting network upgrades and hard forks for every altcoin it lists, Binance aims to maintain a seamless trading experience and contribute to the overall development and improvement of the crypto ecosystem.
