One of the leading cryptocurrency exchanges, Binance, has announced its support for the Layer 1 network Sei (SEI), which is prepared for a network upgrade aimed at improving user experience. As part of the support, deposit and withdrawal services for SEI and other tokens will be temporarily suspended on the network.
Support for Sei Network Upgrade
The major cryptocurrency exchange Binance has announced that it will support the network upgrade of the Layer 1 network Sei, which is scheduled to take place today. As part of the support, deposit and withdrawal services for SEI and other tokens will be temporarily suspended on the network.
Deposit and withdrawal services on the network will be suspended starting from 19:00 TRT today. The planned network upgrade will begin today at 20:00 TRT or at block height 60,622,970. Withdrawal services will remain suspended until the upgrade is complete. During the upgrade period, trading of Sei’s SEI and other tokens will not be affected, and users will continue to trade without any issues.
Binance assures users that all technical requirements related to the network upgrade will be met, managed by the cryptocurrency exchange, and there will be minimal disruption to their trading experience.
Deposit and Withdrawal Services to Resume After Network Upgrade
Once the network upgrade is complete and the upgraded network is deemed stable, deposit and withdrawal services for SEI and other tokens on the Sei network will be restarted. It should be noted that Binance will not make another announcement regarding the resumption of deposit and withdrawal services. Users will need to follow updates on the platform regarding the process.
The decision to temporarily suspend deposit and withdrawal services for SEI and other tokens on the Sei network is part of Binance’s commitment to providing a safe and efficient trading environment for its users. The cryptocurrency exchange aims to enhance the overall user experience by supporting network upgrades for the altcoins it lists.
