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- Binance, the world’s largest cryptocurrency exchange by volume, has announced its support for the network upgrades and hard forks of altcoins REI Network (REI) and MobileCoin
(MOB). - The network upgrade for REI Network is set to take place on September 11, while MobileCoin’s upgrade is scheduled for September 26.
- During these upgrades, Binance will temporarily suspend deposits and withdrawals for REI and MOB, but trading will not be affected.
Binance, the leading cryptocurrency exchange, is set to support the network upgrades and hard forks of altcoins REI Network and MobileCoin, temporarily suspending deposits and withdrawals but leaving trading unaffected.
Details of the Planned Network Upgrades and Hard Forks
Binance has recently announced its support for the upcoming network upgrades and hard forks of altcoins REI Network and MobileCoin. The network upgrade and hard fork for REI Network are scheduled to occur at a block height of 15,084,585, approximately on September 11 at 05.00 local time. Binance will temporarily suspend deposits and withdrawals for REI around 04.00 local time on the same day.
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In addition, Binance will also support the network upgrade for MobileCoin, which is set to occur at a block height of 1,936,306, approximately on September 26 at 21.00 local time. The cryptocurrency exchange will suspend deposits and withdrawals for MOB from around 20.00 local time on the same day.
Trading for REI and MOB Unaffected by the Process
The network upgrades and hard forks will not affect trading for REI and MOB. While the network upgrade and hard fork for REI Network will occur at a block height of 15,084,585, the upgrade for MobileCoin will take place at a block height of 1,936,306.
Binance will handle all technical requirements for users holding REI and MOB in their cryptocurrency exchange wallets. The planned network upgrades and hard forks for REI Network and MobileCoin will not result in the creation of new tokens.
Once the upgraded networks are confirmed to be operating stably, Binance will resume deposits and withdrawals for REI and MOB.
According to data provided by cryptocurrency data and price platform CoinMarketCap, both REI and MOB saw their prices increase following Binance’s support announcement. REI rose by over 25% in the last 24 hours, while MOB saw a nearly 1% increase.
Conclusion
Binance’s support for the network upgrades and hard forks of REI Network and MobileCoin demonstrates the exchange’s commitment to providing comprehensive services for its users. While deposits and withdrawals will be temporarily suspended, trading will continue as normal, ensuring minimal disruption for traders.
