Binance, a major player in the cryptocurrency exchange realm, has announced that it will be temporarily halting both deposits and withdrawals on the Vana (VANA) network. Scheduled maintenance will support a significant network upgrade and hard fork scheduled for 19:00 TRT on July 14, 2025. Meanwhile, trading activities related to altcoin pairs linked to the Vana network will proceed without interruption. Binance has committed to handling all essential technical processes during the upgrade to ensure a smooth transition back to normal operations post-upgrade.
What is the Vana Network Update?
The update is tied to the Vana blockchain reaching a block height of 4,009,180, which aims to improve network functionality. Binance assures that it will take care of all technical details, ensuring users need not take any action to protect their assets during this period.
This hands-off approach means that users can rest easy knowing their holdings are safeguarded within their respective wallets without the need for any additional interventions. Binance’s official statement emphasized no more updates would be redirected to users after the successful upgrade.
How Will Users Be Affected During the Upgrade?
While wallet activities will be inactive, trading on altcoin markets paired with VANA coins will continue smoothly. This ensures ongoing market liquidity, allowing users to manage their positions without hindrance. Deposit and withdrawal activities are expected to resume efficiently once the network’s new version stabilizes.
User holdings will migrate automatically to the new blockchain, and external transfers will be on hold until services are resumed. Users should plan transfers accordingly to avoid any unnecessary wait times. Importantly, Binance confirmed that there would be no cost and no change to the existing deposit addresses during this period.
Major takeaways from the announcement include:
- The block height milestone for the upgrade is 4,009,180.
- Binance will address all technical aspects, requiring no action from users.
- Wallet transactions temporarily halted, but trading will continue.
- No change to deposit addresses or additional fees for users.
Once the network demonstrates stability after the upgrade, Binance will seamlessly resume wallet-based transactions without additional announcements. This proactive approach is part of their ongoing commitment to providing a secure and stable cryptocurrency trading environment for its users, ensuring protection and ease of transaction processing.
