MultiversX (EGLD) Network Upgrade: Binance to Temporarily Suspend Deposits & Withdrawals
Binance has announced a temporary suspension of deposits and withdrawals for the MultiversX (EGLD) network as it prepares to support an important network upgrade. The suspension will take effect on March 25, 2025, at 23:30 (UTC+8) and will remain in place until the upgrade is completed on March 26, 2025, at 00:30 (UTC+8).
Why is This Upgrade Important?
The MultiversX (EGLD) upgrade aims to enhance the network’s scalability, security, and overall performance. Such upgrades are crucial for improving blockchain efficiency, ensuring faster transactions, and optimizing network stability.
What Binance Users Need to Know
Trading of EGLD will not be affected during the upgrade.
Once the network upgrade is complete, Binance will reopen deposits and withdrawals once it deems the network stable.
Users are advised to complete any EGLD transactions before the suspension begins to avoid inconvenience.
Why This Matters for EGLD Holders
Network upgrades typically increase investor confidence, as they demonstrate ongoing project development. In some cases, such improvements can positively impact token prices in the long run.
Stay tuned for further updates from Binance regarding the successful completion of the upgrade!