Binance Halts IRISnet (IRIS) Transactions: Deposits and Withdrawals Temporarily Suspended

  • Cryptocurrency exchange Binance has announced a temporary suspension of IRISnet (IRIS) token transactions to accommodate a network upgrade.
  • The upgrade aims to enhance the overall user experience by improving network functionality and stability.
  • “This upgrade is crucial for maintaining high standards of service and ensuring user transactions are secure and efficient,” stated a Binance spokesperson.

This article discusses the upcoming network upgrade for IRISnet on Binance, detailing the timing, impact on users, and key takeaways.

What are the Upgrade Timings?

The network upgrade for IRISnet is scheduled to occur at block height 25,006,118, which is expected around 08:30 Turkey time on May 20, 2024. Binance has confirmed that trading of IRIS tokens will not be affected during the upgrade process.

How Will Users Be Affected?

Binance will manage all technical aspects of the network upgrade, ensuring a smooth transition for users. The temporary suspension of deposits and withdrawals is a precaution to secure the upgrade process and prevent any transaction issues.

Key Takeaways for Users

Users should prepare for the temporary suspension of deposits and withdrawals starting at 07:30 Turkey time on May 20, 2024. It is advisable to complete any critical transactions ahead of the suspension or wait until the network is stable post-upgrade.

Conclusion

The proactive steps taken by Binance for the IRISnet upgrade highlight their commitment to user security and service quality. Users are encouraged to stay updated through official Binance communications for any further announcements.

BREAKING NEWS

BTC Long Position Surpasses $20 Million as 1011 Insider Whale Extends 12-Game Winning Streak

COINOTAG News, October 24, cites on-chain analyst Ai Auntie,...

Ethereum (ETH) Long Position Reaches $132M as 1011 Insider Whale Opens BTC Long

COINOTAG News, October 24, citing on-chain analyst Ai Auntie...

SOL-Backed Boros Reimagines DeFi Yield Trading with $28.3B Volume and $47B Open Interest in 3 Months

COINOTAG News, October 24 — In just three months...

US-Australia Rare Earths Deal Could Boost Miners Like Graphinex

The US-Australia rare earths deal, signed by President Donald...

Bitcoin STH-SOPR at 0.992 May Signal Potential Market Bottom Formation

Bitcoin's STH-SOPR has dropped to 0.992, signaling short-term holders...

Animoca Brands Gains In-Principle VARA Approval for Crypto Brokerage in Dubai

Animoca Brands has received in-principle approval from Dubai's Virtual...

XRP Could Rally on Buy Signal and Potential ETF Inflows

XRP's price outlook remains bullish as analysts...

Bitcoin’s Negative STH-NUPL May Signal Short-Term Distress and Long-Term Bullish Potential

Bitcoin's Short-Term Holder Net Unrealized Profit/Loss (STH-NUPL) has turned...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img