Binance, one of the world’s leading cryptocurrency exchanges, announced its plan to suspend deposits and withdrawals of tokens on the PIVX (PIVX) network in order to improve user experience and support the network upgrade and Hard Fork of the PIVX (PIVX) network.
Binance Announces PIVX Network Upgrade and Hard Fork Support
The suspension will come into force as of 29-02-2024 14:00. This move aims to facilitate a smooth transition during the upgrade process and ensure optimal functionality for users.
The network upgrade and Hard Fork is planned to occur at block height 4,281,680, which is estimated to occur around 15:00 on 29-02-2024.
While deposits and withdrawals will be temporarily suspended during this period, token trading on the PIVX network will not be affected on the Binance platform.
Binance assured users that all technical requirements regarding the upgrade will be managed by the exchange and any concerns regarding the migration process will be addressed.
Once the upgraded network is deemed stable, deposits and withdrawals for tokens on the PIVX network will be reopened. Binance will refrain from issuing further announcements regarding this matter, showing its confidence that the upgrade will be completed successfully.
This proactive step taken by Binance underlines its commitment to providing a seamless trading experience while supporting the evolution and development of blockchain networks such as PIVX.
*This is not investment advice.