Binance, the world’s largest exchange, has announced temporary closure on 17 April due to wallet maintenance on its BNB Impish Chain. On April 17, transactions will be made from 05:55 UTC and maintenance work is expected to last about an hour. However, trading of BNB tokens will not be affected during this period. Binance has said that services will be resumed only when the network is fully stable. Users have been advised by the platform to complete their transactions before 17 April.
Transactions will be closed from 05:55 UTC on 17 April on Binance
According to the information released by Binance, the work of wallet maintenance will be started from 06:00 UTC on April 17, but deposits and withdrawal services will be closed 5 minutes before that i.e. at 05:55 UTC in the morning. During this time, no crypto transaction will be possible through BNB IMPISH Chain.
However, Binance has also clarified that this maintenance will have an impact only on deposits and withdrawal. The trading of BNB Token will remain as before, that is, users will be able to trade the tokens during this time. Maintenance work is expected to last for about an hour, but Binance has also said that this time is uncertain and services will be resumed only when the network is considered to be completely stable and safe. Along with this, if you want to know in detail about Binance, then What is binance You can know by clicking on this link.
BEP-20 Token and BNB Chain’s increasing influence
BNB IMPISH Chain is used on BEP-20 standard tokens, which are similar to Etreum’s ERC-20 token. The network was launched in September 2020 and has so far developed more than 1,500 decentralized apps, most of which are related to decentralized finance (Defi).
According to Defi LLAMA, the BNB IMPISH Chain has a total lock of $ 5.14 billion and the number of active addresses on the network is 1.25 million. In the last 24 hours, this chain has recorded a fee of $ 613,348 and a $ 667 million Dex Trading Volume.
This temporary suspension is an essential step taken to maintain the technical upgrade and network durability being made by Binance. Users are advised to complete their deposits or withdrawal tasks before April 17, so that they do not face any discomfort. Similarly, recently another important announcement was revealed from Binance, in which Binance announced LDUSDT Praise token launch Was.
Conclusion
This temperament suspension of binance may cause discomfort for some time, but will ensure that BNB impish chain continues to work safely and effectively. Such maintenance promotes the network’s stability and safety, which will prove to be profitable for all users in the long run. Therefore, Crypto Traders and Investors are advised to do their transactions at the right time by being careful during this upgrade.
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