James Ding
September 9, 2024 05:35
Binance has announced that ENJ token deposits and withdrawals will be suspended on September 9, 2024 for a network upgrade. Trading activity will not be affected.
Binance, one of the world’s leading cryptocurrency exchanges, has announced support for the upcoming Enjin Coin (ENJ) network upgrade. According to Binance, this upgrade will temporarily suspend deposits and withdrawals of ENJ tokens starting from September 9, 2024, 12:00 (UTC).
Network Upgrade Details
The network upgrade is scheduled to take place at block height 6,678,271 and is expected to arrive at approximately 13:00 (UTC) on the same day. Binance has assured users that there will be no impact on trading activity of ENJ tokens during this period. The exchange will handle all technical requirements related to the upgrade to ensure a smooth process for users.
Impact on users
Deposits and withdrawals are temporarily suspended, but Binance has confirmed that these services will resume once the network is deemed stable after the upgrade. Users are advised that there will be no further announcement regarding the resumption of deposits and withdrawals.
Binance also emphasized that there may be discrepancies in the translated version of the announcement and recommended that readers refer to the original English version for the most accurate information. For more information, you can read the official announcement from the Enjin project team.
A broader context
This announcement comes amid a series of network upgrades and developments within the blockchain ecosystem. Known for its focus on blockchain-based games and NFTs, Enjin Coin has been actively working to enhance its network capabilities. The upcoming upgrade is expected to bring improved performance and additional features to the Enjin ecosystem.
As the cryptocurrency market continues to evolve, exchanges like Binance play a vital role in facilitating a smooth transition during network upgrades. Binance helps maintain market stability and user trust by managing the technical aspects and ensuring minimal disruption to trading activity.
Users are advised to continue to monitor official announcements from Binance and the Enjin project team to stay informed about the upgrade process and potential impacts on trading activities.
Image source: Shutterstock