Binance regularly carries out operational maintenance work on the cryptos available on its crypto exchange platform. The most recent activity of this kind concerned the crypto Tron, carried out last Wednesday October 18.
Binance will suspend ETH withdrawals and deposits, for 2 hours of maintenance
Binance, one of the largest crypto exchanges in the market recently made an important announcement regarding ETH holders. The company has scheduled wallet maintenance for ERC20 tokens on the Ethereum network.
This is a routine activity, scheduled to take place on Tuesday, October 24 at 7 a.m. Coordinated Universal Time (UTC). According to Binance, the maintenance operation in question should be carried out for approximately two hours.
To facilitate execution, Binance will suspend deposits and withdrawals involving Ethereum (ERC20) network assets during this time. A suspension which will take place from 6:55 a.m. UTC and which will not affect the exchanges of digital assets and currencies of the said network.
Overall, notes Binance, this maintenance activity will ultimately contribute to fostering a more robust and secure exchange environment. This, in line with the company’s commitment to ensuring the stability and security of the cryptos it manages.
What supports the performance of ETH on the market?
It is not certain that this operational update of Binance will impact the dynamics of ether (ETH), which are currently rather positive. According to some sources, the asset has recently reached an important milestone in terms of adoption.
For example, the number of Ethereum wallets holding a balance has exceeded the symbolic mark of 100 million. A breakthrough which demonstrates the growing interest and use of the network.
The trend is also on the rise for Ethereum wallets operated by whales. Those holding more than 1 million ETH now represent approximately 32.3% of the total supply. This indicates a trend of increasing accumulation of this crypto.
Ethereum’s native crypto looks in better shape today than it did a few days ago. One ETH is currently worth around $1,680. The valuation of the asset having increased by 2.82% in 24 hours for a weekly increase of 6.48%! The second most important crypto on the market seems to be consolidating its place in the crypto industry. Just like bitcoin (BTC) which has resolutely crossed the $30,000 mark.
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