Major cryptocurrency exchange Binance announced its support for the upcoming network upgrades and hard forks of Polygon (MATIC) and Cosmos (ATOM), aiming to provide a seamless user experience. The upgrades and hard forks for both networks are scheduled to take place on March 20, 2024, and Binance has stated that it will take the necessary measures to facilitate a smooth transition.
Token Deposits and Withdrawals to Be Temporarily Suspended
The Polygon network upgrade and hard fork are expected to occur at block height 54,876,000, or around 09:00 AM local time on March 20, 2024. Accordingly, Binance will temporarily suspend deposits and withdrawals for MATIC and other tokens on the Polygon network starting from approximately 08:00 AM on the same day.
Similarly, the Cosmos network upgrade and hard fork are expected to take place at block height 19,639,600, or around 01:27 PM local time on March 20, 2024. Binance will suspend deposits and withdrawals for ATOM and other tokens on the Cosmos network starting from approximately 12:30 PM on March 20, 2024.
Trading to Continue Unaffected by the Process
Binance has confirmed that while token deposits and withdrawals will be temporarily suspended, trading for both MATIC and ATOM will continue without interruption. The cryptocurrency exchange assures users that it will meet all technical requirements necessary for the updates to ensure a smooth transition for all users.
Once the updated networks stabilize, Binance will resume deposit and withdrawal services for tokens on both networks. There will be no further announcements on this matter, and users can expect the operations to continue as soon as the network upgrades and hard forks are successfully implemented.
Overall, Binance’s support for the network upgrades and hard forks of Polygon and Cosmos is part of its commitment to providing a reliable and efficient trading experience while keeping pace with developments in the cryptocurrency ecosystem.
