Binance to Suspend Optimism Deposits and Withdrawals Ahead of Upgrade
World-leading crypto exchange Binance announced support for the upcoming upgrade of the Optimism (OP) network. The announcement was made on its official website.
Binance will temporarily suspend deposits and withdrawals on the Optimism network to prepare for the upgrade and hard fork scheduled for January 9, 2025. The suspension will commence at 17:00 UTC, one hour before the upgrade starts at 18:00 UTC. This pause is necessary for a smooth transition and to ensure users continue to have seamless experiences post-upgrade.
No Impact on Optimism Trading Activities, Binance Assures
During the suspension, users can still trade with Optimism tokens #OP. They may buy, sell, and swap their tokens as usual. Binance will handle all technical aspects of the upgrade, requiring no action from users. The suspension will be lifted once network stability is confirmed, without any further announcements regarding the reopening of deposits and withdrawals.
Optimism Upgrade
Optimism serves as a Layer 2 scaling solution for Ethereum. Regular upgrades are crucial for improving performance and enhancing user experience, especially as user demand grows. Users should plan transactions to avoid inconvenience during this suspension.
This action by Binance demonstrates its commitment to user satisfaction and network stability during upgrades. For Optimism, the upcoming upgrade aims to enhance scalability and efficiency within the crypto space.