Binance, a leading cryptocurrency exchange, is temporarily suspending Arweave (AR) deposits and withdrawals to support a network upgrade and hard fork. This will ensure a seamless user experience when the upgraded network is launched. The suspension will begin on Nov. 13, 2024, at 13:00 UTC, and will last until the upgrade is complete.
The network upgrade and hard fork will happen at the block height of 1,547,120, which is expected around 14:00 UTC on the same day. Although trading of AR tokens will not be affected during this period, users will not be able to deposit or withdraw AR tokens until the upgrade is finished. Binance will manage all technical requirements, and once the upgrade is complete, the exchange will resume AR token deposits and withdrawals.
The upgrade is expected to improve the network’s performance and security, ultimately benefiting users in the long run.