Cryptocurrency exchange Binance will suspend Cardano withdrawals. The exact date of the historical update is known

Cryptocurrency exchange Binance has announced its support for the Vasil hard fork, which will take place in two stages.

#Binance will support the @CardanoStiftung $ADA network upgrade & hard fork.https://t.co/byMfBcbJF4

— Binance (@binance) September 22, 2022

According to the crypto exchange, the Vasil network upgrade will take place on September 22 at 21:45 (UTC). Withdrawals and the creation of ADA deposit accounts will be suspended one hour earlier. The network update for Plutus V2 Cost Model will take place on September 27 at 21:45 (UTC). In this case, ADA deposits and withdrawals will also be suspended on September 27 starting at 20:45 (UTC). When Binance determines that the updated network is stable, the crypto exchange will reopen the ability to make deposits and withdrawals for ADA holders. The company added that the network upgrade and hard fork will not affect cryptocurrency trading.

In the morning, Input Output Hong Kong (IOHK) tweeted that it was fully prepared for the hardfork on 13 cryptocurrency exchanges, which account for more than 87% of Cardano’s liquidity. Currently, Coinbase is the only cryptocurrency platform that is still preparing for the ADA update. More than 98% of the blocks on the main Cardano network and the main decentralized blockchain applications (DApps) have confirmed their readiness for the historic changes. It should be noted that according to the Santiment analytical platform, over the past week, news of the Cardano update has led to a 35.16% increase in the discussion of the digital asset on social media.