James Ding
Sep 09, 2024 05:35
Binance has announced that it will suspend ENJ token deposits and withdrawals for a network upgrade on September 9, 2024. However, trading activities will not be affected.
Binance, a leading global cryptocurrency exchange, has declared its support for the forthcoming Enjin Coin (ENJ) network upgrade. As stated by Binance, the upgrade will require a temporary halt of deposits and withdrawals for ENJ tokens beginning September 9, 2024, at 12:00 (UTC).
Upgrade Details
The network upgrade is planned to take place at the block height of 6,678,271, anticipated to be reached around 13:00 (UTC) the same day. Binance has reassured its users that trading activities for ENJ tokens will continue unaffected. The exchange will manage all technical aspects related to the upgrade, ensuring a smooth process for users.
Implications for Users
While there will be a temporary suspension of deposits and withdrawals, Binance has confirmed these services will resume once the network stabilizes after the upgrade. Users should note that there will be no further updates regarding the return of deposits and withdrawals.
Additionally, Binance pointed out that there could be discrepancies in translated versions of the announcement, and users should refer to the original English version for the most reliable information. For further details, users can view the official announcement from the Enjin project team.
Wider Context
This announcement coincides with a series of network developments and upgrades within the blockchain landscape. Enjin Coin, recognized for its emphasis on blockchain-based gaming and NFTs, has been actively enhancing its network capabilities. This upgrade is expected to yield improved performance and additional functionalities for the Enjin ecosystem.
As the cryptocurrency market evolves, exchanges like Binance are essential in ensuring smooth transitions during network upgrades. By handling the technical challenges and minimizing disruptions to trading, Binance contributes to maintaining market stability and user trust.
Users are encouraged to keep an eye on official announcements from both Binance and the Enjin project team to stay informed about the upgrade process and its possible effects on their trading activities.
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