$ETH The world's largest cryptocurrency exchange Binance has announced support for the upcoming Ethereum network upgrade scheduled for May 7.

In an official statement on the exchange's website, it is stated that as part of the preparation for the upgrade, Binance will temporarily suspend the deposit and withdrawal of digital assets on the Ethereum network starting at 06:00 UTC, as this is necessary to ensure a smooth transition of exchange services.

At the same time, trading of Ether and related assets will remain available to users throughout the entire upgrade period. Binance assured that the exchange will handle all technical aspects related to this process to minimize inconvenience for users.

Additionally, the Binance team reminded users of the upcoming scheduled maintenance of wallets, which will affect several other networks, including Arbitrum, Optimism, and Polygon. As a result, on May 8, starting at 07:00 UTC, deposits and withdrawals on these blockchains will be temporarily suspended.

Earlier, Binance announced the launch of a specialized tool Fund Accounts to simplify the administration of portfolio crypto investments.