Binance temporarily closed the possibility of Ethereum withdrawal — the cryptocurrency exchange is preparing for the transition of ETH to the «green» blockchain

The largest cryptocurrency exchange Binance has announced a temporary suspension of deposits and withdrawals on the Ethereum network — the exchange will perform maintenance of the Ethereum wallet. Thus, Binance is preparing for the transition of ETH to the green blockchain.

According to Binance representatives this morning, Ethereum wallet maintenance (ERC20) will last for 3 hours (it started at 9:30 am Kyiv time). It is worth noting that trading in ETH tokens will not be suspended, users can continue to buy and sell ethereum. The only difficulty is with deposits and withdrawals, as these services are not currently available.

Binance representatives emphasized that they will not publish any additional information about the resumption of temporarily suspended services, and the possibility of withdrawing ETH will be available immediately after the maintenance is completed.

According to a statement made by Binance last week, deposits and withdrawals of ETH and ERC-20 tokens on the exchange will be temporarily suspended for the next few weeks. The company said it will do so on September 6 for the Bellatrix consensus level update and September 15 for the Paris consensus level update. The Bellatrix update puts Ethereum’s consensus level in a state ready to merge, and the Paris update will move the network from PoW to PoS.