Binance, a prominent figure in the digital currency exchange domain, has publicized its backing for the imminent upgrade of the Sei Network, a Layer 1 blockchain. In preparation for this, Binance will halt SEI token services, including deposits and withdrawals, to facilitate the seamless execution of the upgrade.
Anticipated Network Enhancements
The exchange’s support for Sei’s network enhancement underscores its commitment to user experience. With the upgrade scheduled for today, Binance is set to suspend related transactions beginning at 19:00 TRT. The upgrade process will initiate at 20:00 TRT, corresponding to block height 60,622,970. While SEI token trading will be unaffected, withdrawal services will be on hold until the upgrade is finalized.
Binance reassures its clientele that the technical aspects of the upgrade are under their purview, ensuring minimal trading disruptions. This proactive approach is intended to maintain the integrity of user activities during the system improvement phase.
Post-Upgrade Service Restoration
Following the successful implementation of the network upgrade and subsequent stability verification, Binance plans to promptly reinstate deposit and withdrawal functionalities for SEI and other Sei network tokens. Notably, the exchange will not issue further notifications about service resumptions, instead advising users to stay informed through platform updates.
Binance’s strategy to suspend specific services during the Sei Network upgrade reflects its dedication to user safety and market efficiency. Through its support for such blockchain updates, the exchange endeavors to refine trading experiences for the digital assets it offers.