The post Binance Pauses Transactions for Network Upgrades appeared on BitcoinEthereumNews.com.

On May 7, 2025, Binance is set to halt Ethereum and related altcoin deposits and withdrawals, marking a pivotal moment for its users. This strategic pause is in preparation for an important network update and hard fork scheduled at 13:05 local time. By temporarily suspending these operations, Binance aims to shield its users during this technical transition, ensuring a smoother upgrade process. Another key network upgrade is slated for May 9, targeting the Optimism (OP) and Metal DAO (MTL) networks. Why will Binance suspend deposits and withdrawals?How will users be impacted? Why will Binance suspend deposits and withdrawals? Binance plans a temporary freeze on deposit and withdrawal activities across multiple networks, including Ethereum, to facilitate the upcoming hard fork. This decision impacts several altcoins and networks such as Arbitrum, Optimism, Polygon, and others. The suspension is designed to support not only the Ethereum network but also its associated side networks during the upgrade. It is paramount to note that the suspension affects only the fund transfer feature. Trading activities for Ethereum and the concerned altcoins will operate as usual without any disruption. Users will not have to wait for an additional announcement as the exchange will automatically reinstate deposit and withdrawal functionalities once the networks stabilize post-upgrade. Details on the resumption will be available on Binance’s system status screen. How will users be impacted? This scheduled suspension primarily affects users’ ability to transfer funds. Binance users should note that, although fund transfers are on hold, trading activities remain unaffected. The temporary pause aims to ensure that these technological improvements occur seamlessly, minimizing any potential user inconvenience. Further updates on May 9 cover the Optimism and Metal DAO networks, with temporary closures for deposits and withdrawals starting at 18:00 local time. Binance will resume these activities automatically after completing the update,…

---

Filed under: News - @ May 7, 2025 12:29 pm