Binance Pauses Trading Ahead of THORChain’s Major Network Upgrade
Binance hits pause on THORChain transactions as the decentralized liquidity protocol gears up for a game-changing upgrade.
Why it matters: Network upgrades often trigger volatility—traders scramble, liquidity wobbles, and the usual 'buy the rumor, sell the news' circus begins. This time? Binance isn’t taking chances.
The details: No exact timeline given, but expect the usual crypto-twitter frenzy speculating on price action. Meanwhile, THORChain’s upgrade promises faster swaps and tighter security—assuming no hiccups, unlike *certain* centralized exchanges’ track records.
Bottom line: Another day, another crypto upgrade. Will it deliver? Maybe. Will traders overreact? Absolutely. Pro tip: Watch the order books, not the hype.
Details of THORChain’s Network Update and Hard Fork
According to Binance, the decision to suspend RUNE coin deposits and withdrawals aligns with THORChain’s efforts to enhance network security and efficiency through its update and hard fork. The maintenance period will begin at 7:00 PM Turkish Time and will cover a critical point expected to be reached by 8:00 PM. Users wishing to transfer RUNE coins to another exchange or wallet must complete these transactions in advance, as operations during the update will not be accepted.
The exchange assures users that all technical requirements will be addressed internally, eliminating the need for user intervention. Once network stability is confirmed post-update, deposits and withdrawals will automatically resume without any additional announcements. Users will be able to see the service’s return to normal operation directly through the exchange’s interface.
Possible Impacts on Users
Users holding THORChain-based RUNE coins on the exchange will continue to enjoy uninterrupted trading, although external wallet transfers will fail during this period. Binance users planning transactions should meet their liquidity needs before the cessation of operations. Otherwise, access to funds will remain restricted until deposits and withdrawals restart on the network.
planned network update aims to enhance the stability and scalability of the. Users are advised to regularly monitor the exchange’s schedule to anticipate any block height or time/date changes and remain prepared.
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