Tim Atom

Binance will suspend the deposits and withdrawals of token(s) networks starting at approximately 2025-05-07 09:45 (UTC) to support the Ethereum network upgrade and hard fork, ensuring the best user experience. 

Binance confirmed support for ETH’s network upgrade and hard fork set for May 7, 2025. The crypto exchange will suspend the deposits and withdrawals of token(s) on the Ethereum (ETH), Arbitrum (ARB), Optimism (OP), zkSync Era (ZKSYNC), Base (BASE), Manta Network (MANTA), Starknet (STRK), Polygon (POL), Metis (METIS), Scroll (SCR), Cyber (CYBER), Metal DAO (MTL), Celo (CELO) and Worldcoin (WLD) networks starting May 7th at approximately 09:45 (UTC) to support the Ethereum network upgrade and hard fork to ensure the best user experience. 

Binance suspends deposits and withdrawals for Ethereum upgrade 

Binance Will Support the Ethereum (ETH) Network Upgrade & Hard Fork – 2025-05-07 pic.twitter.com/Ge0ajMEyqV

— Binance Announcement (@BinanceAnnounc) May 7, 2025

According to the official announcement, Binance revealed that it will support the Ethereum (ETH) network upgrade and hard fork at 10:05 (UTC) on May 7th, 2025. 

To ensure continued good user experience, the platform will suspend the token deposit and withdrawal services on the Ethereum (ETH), Arbitrum (ARB), Optimism (OP), zkSync Era (ZKSYNC), Base (BASE), Manta (MANTA), Starknet (STRK), Polygon (POL), Metis (METIS), Scroll (SCR), Cyber (CYBER), Metal DAO (MTL), Celo (CELO), and Worldcoin (WLD) network 15 minutes before the upgrade at 09:45 (UTC).

Binance also disclosed that the trading functions of token(s) on the aforementioned networks would not be impacted, and it would handle all technical requirements for users.

“Deposits and withdrawals for token(s) on the aforementioned networks will be reopened once they are deemed to be stable. No further announcement will be posted.”

–Binance team

Binance previously suspended the deposits and withdrawals of token(s) on the IOTA (IOTA) network on May 5th at approximately 06:00 (UTC) to support its network upgrade and hard fork and also suspended the deposits and withdrawals of token(s) on the THORChain (RUNE) network on May 1st at 14:00 (UTC) to support its network upgrade and hard fork.

Ethereum schedules Prague fork containing several EIPs

Ethereum previously announced that the Prague fork was also scheduled to occur on the mainnet at block timestamp ‘Wed May 07 10:05:11 2025 UTC’. The fork will contain several EIPs, including EIP-2537, which will add operation on the BLS12-381 curve as a precompile in a set necessary to efficiently perform operations such as BLS signature verification. 

EIP-2935 will store and serve the last 8191 block hashes as storage slots of a system contract to allow for stateless execution. At the same time, EIP-6110 will provide validator deposits as a list of deposit operations added to the Execution Layer block, and EIP-7002 will allow validators to trigger exits and partial withdrawals via their execution layer (0x01) withdrawal credentials.

EIP-7251 will also increase the MAX_EFFECTIVE_BALANCE, allowing validators to have larger effective balances while maintaining the 32 ETH lower bound. EIP-7549 will move the committee index outside the ‘signed attestation message,’ and EIP-7623 will increase call data cost to reduce maximum block size.

EIP-7685 will include a general-purpose bus for sharing execution layer (EL) triggered requests with the consensus layer (CL), and EIP-7691 will increase the number of blobs to reach a new target and max of 6 and 9 blobs per block, respectively. Also, EIP-7702 will add a new tx type to permanently set the code for an EOA, while EIP-7840 will include per-fork blob parameters in client configuration files.

Notably, transaction-sending RPCs will now add txs to the ‘locals’ tracker only when they have any chance of inclusion, which will be a bit of a revert from the behavior added in ‘Multicapacitor v1.15.4’–where APIs such as ‘eth_sendRawTransaction’ would always return a txhash, even if the transaction was not includable on-chain.

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According to Foresight News, Vitalik Buterin, co-founder of Ethereum, recently expressed his approval of Polygon's ability to maintain stability and low transaction fees. In a tweet, Buterin highlighted the platform's support for significant applications such as Polymarket.

Polygon, a layer-2 scaling solution for Ethereum, has been recognized for its efficient handling of transactions, which has contributed to its growing popularity among developers and users. The platform's low fees and reliable performance have made it an attractive option for decentralized applications (dApps) seeking to operate on the Ethereum network without the high costs typically associated with it.

Buterin's endorsement underscores the importance of scalability solutions like Polygon in the broader blockchain ecosystem. By enabling faster and more cost-effective transactions, these solutions play a crucial role in the adoption and usability of blockchain technology. Polymarket, a decentralized prediction market platform, is one of the many applications benefiting from Polygon's infrastructure, allowing users to engage in prediction markets with reduced transaction costs.

The acknowledgment from a prominent figure like Buterin is likely to further boost confidence in Polygon's capabilities and its role in supporting the Ethereum network. As the demand for scalable and efficient blockchain solutions continues to rise, platforms like Polygon are expected to play a pivotal role in the future of decentralized finance and applications.