Binance Halts Zilliqa Trading Ahead of Major Network Upgrade—Here’s Why It Matters
Crypto giant Binance hits pause on Zilliqa transactions as the blockchain prepares for its most significant upgrade yet.
The strategic suspension—announced just hours before the network fork—shows exchanges are finally taking protocol changes seriously. Or maybe they just hate refunding customers after inevitable chaos.
When chains evolve, exchanges adapt (or crumble). Binance's proactive freeze prevents the usual post-upgrade dumpster fire—no stuck transactions, no angry tweets, just clean trading resumption once the new Zilliqa chain goes live.
Smart move? Absolutely. Standard practice? Hardly. Most platforms wait until users are screaming about lost funds before acting. But in crypto, 'professional risk management' remains an oxymoron—right up there with 'stablecoin' and 'SEC clarity.'
Zilliqa Network’s Update Process and Binance’s Role
Binance has confirmed that it will undertake all necessary technical infrastructure preparations as part of the Zilliqa network’s upgrade and hard fork. This means that users do not need to take any additional actions with their ZIL coin balances within their wallets or the exchange. Assets will remain secure, and the update process will be managed in the background by the exchange.
During these fundamental changes to the Zilliqa network, trading of ZIL and related coins on Binance will remain unaffected. Users can continue to trade ZIL coins effortlessly, even while deposit and withdrawal processes are on hold.
When Will Deposit-Withdrawal Services Resume?
Following the completion of the upgrade and hard fork, Binance will review when deposits and withdrawals over the Zilliqa network can be reinstated. It is essential for the updated network to be adequately tested for stability and reliability before resumption of services.
The cryptocurrency exchange indicated that this evaluation and preparation phase might take “up to a week”. This duration could be shorter depending on the network’s performance. Binance will not issue a separate announcement regarding the resumption of operations. Therefore, users must keep an eye on Binance’s official communication channels or check the status of the relevant network in the platform’s “Wallet” section.
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