Leading cryptocurrency exchange Binance announced its support for Enjin Coin’s (ENJ) network upgrade scheduled for September 9, 2024, at 16:00 UTC. To facilitate the update for its users, the exchange will temporarily suspend ENJ coin deposits and withdrawals starting from 15:00 UTC on the same day.
ENJ Deposits and Withdrawals to Be Temporarily Suspended
The planned network upgrade is expected to occur at block height 6,678,271, enhancing the performance and features of the Enjin Coin network. While ENJ deposits and withdrawals will be temporarily halted, Binance confirmed that Enjin Coin trading on the platform will continue uninterrupted throughout the update process. This means users can continue trading without any disruption before and during the update.
Binance assured its users that it will meet all technical requirements related to the network upgrade to ensure a smooth transition and minimize potential issues.
Following the upgrade, Binance will resume Enjin Coin deposits and withdrawals without a separate announcement once the network’s stability and smooth operation are confirmed.
Binance’s approach in the case of ENJ coin reflects the exchange’s commitment to providing a seamless user experience, especially during network upgrades that can cause technical issues. Users, particularly those who may need to access their Enjin Coins outside the exchange during the temporary suspension of ENJ deposits and withdrawals, should plan accordingly.
What is Enjin Coin?
Known for its role in blockchain-based gaming and cryptocurrency, Enjin Coin continues to evolve, and this latest update is expected to further strengthen the network’s features. Binance’s support for the planned upgrade of the altcoin reflects its commitment to supporting technological advancements in the cryptocurrency market.
The exchange’s announcement ensures users that their ENJ coins will be safe and that Binance will take all necessary steps to provide a stable and reliable trading environment during the update.
