Important Updates on Network Upgrades and Hard Forks Supported by Binance 🚀
Binance, a prominent cryptocurrency exchange, has declared its backing for the forthcoming network upgrades and hard forks of Shentu (CTK) and Rootstock Infrastructure Framework (RIF). These enhancements aim to enhance user satisfaction on the platform.
Details of the Upgrades 🛠️
- The Shentu (CTK) network upgrade and hard fork are slated to happen at block height 19,525,000, expected around 2024-07-23 at 10:00 (UTC).
- In preparation for this event, Binance will pause the deposits and withdrawals of tokens on the Shentu network starting approximately around 2024-07-23 at 09:00 (UTC).
- Similarly, the Rootstock Infrastructure Framework (RIF) network upgrade and hard fork will occur at block height 6,549,300 or around 2024-07-24 at 10:00 (UTC).
- Binance will halt deposits and withdrawals of tokens on the Rootstock network starting around 2024-07-24 at 09:00 (UTC).
Impact on Trading 💹
Binance has made it clear that trading tokens on the Shentu and Rootstock networks will not be impacted during these upgrades. The exchange will handle all technical aspects to ensure a smooth transition for users. Deposits and withdrawals will resume once the upgraded networks stabilize.
User Guidance and Precautions 🚧
- Users should expect a temporary pause in deposits and withdrawals during the upgrade periods, as advised by Binance.
- No further announcements will be made about the reopening of these services once the networks stabilize.
It is recommended for users to stay informed through Binance’s official channels to avoid any confusion that may arise from translated versions of the announcement.
Market Risks and Advisories ⚠️
Binance has also issued a caution regarding the high market risks and price fluctuations linked to digital assets. Users should be aware that the value of their investments can vary, and they should make informed decisions based on their financial situation and risk tolerance. Seeking advice from an independent financial advisor is advisable before making any investment choices.
Hot Take: Stay Informed and Secure Your Assets! 🛡️
With these network upgrades and hard forks on the horizon, it’s crucial for you, as a crypto enthusiast, to stay updated and take necessary precautions to safeguard your investments. Be vigilant, follow official announcements, and ensure your assets are secure during these transitions. Your proactive approach will help you navigate these changes smoothly and protect your crypto portfolio effectively.
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