Binance, one of the leading cryptocurrency exchanges, has announced that it will suspend Ethereum (ETH) deposits and withdrawals for a period of few hours on April 6. The reason for this move is wallet maintenance to be done for the Ethereum network (ERC20). This maintenance is expected to last for around two hours beginning from 06:55am UTC. The trading of tokens on the Ethereum network (ERC20), however, will not be affected during this wallet maintenance.

The Shanghai upgrade, commonly referred to as "Shapella" as well, is also an exciting addition that is set to be released by Ethereum (ETH) developers. It will help users to make staked ETH withdrawals possible, and is estimated to occur on April 12 at 10:27pm (UTC). As an accompanying announcement, withdrawals and deposits of ETH, OP, ARB and ERC-20 tokens via the Ethereum (ETH), Optimism (OP) and Arbitrum (ARB) networks will be suspended approximately starting from April 12 at 10:20pm (UTC).

Apart from that, following the Shapella upgrade, Binance will be increasing the minimum unlock count of deposits on the Ethereum (ETH) network from the current 12 blocks to 64 blocks. This is great news for users seeking convenience as they can easily keep track of the deposited amount as well as transaction statuses.

In conclusion, Binance's important and timely announcements have a direct connection and relevance to the future of Ethereum (ETH) network, and its incorporation of the Shapella Upgrade will be beneficial for users who seek convenience in managing and tracking Ethereum (ETH) depositions.



Other News from Today