Binance Maintenance Update for Tron (TRX) Holders on Oct 10

Summary

• Binance will halt deposits and withdrawals on the Tron Network on October 10 for planned maintenance.
• TRX has surged by 60% this year, resulting in most holders being profitable.

Notice for TRX Traders

The largest crypto exchange globally will conduct wallet maintenance for the Tron Network on October 10. The maintenance is expected to last around one hour, during which TRX deposits and withdrawals will be inaccessible. Binance has confirmed that services will resume once the task is completed:

“Trading of token(s) on the stated network will remain unaffected. Deposits and withdrawals for token(s) on the stated network will be re-enabled once the network is confirmed to be stable.”

It has been noted that there will be no additional announcements regarding this, so users should treat any information they see online cautiously.

The exchange has executed several similar operations this year. In September, it conducted wallet maintenance for BNB Smart Chain (BEP20), temporarily disabling deposits and withdrawals on the network. Before that, it briefly paused certain services with TON due to an upgrade on The Open Network.

TRX’s Remarkable Performance This Year

Tron’s native token has seen significant price growth in the past few months, up 60% year-to-date (YTD). Furthermore, it reached a three-year peak of nearly $0.17 at the end of August before slightly declining to its present $0.16 (based on CoinGecko’s data).

TRX ranks among the most-profitable cryptocurrencies for its holders. As per IntoTheBlock, close to 99% of its investors are currently enjoying some paper profits. Just over 1% are at break-even, while none are currently at a loss.

Additionally, Tron’s ecosystem has seen a noticeable revival, with a multitude of meme coins being launched on SunPump (a platform linked to Justin Sun that allows users to create memes in minutes). The most prominent tokens by market capitalization include Sundog (SUNDOG) and Tron Bull (BULL).

Earlier in the summer, these tokens experienced a significant rally, but both SUNDOG and BULL have since lost steam over the last few weeks and are now trading well below their peak values.