Leading crypto exchange Binance has announced its support for upcoming network upgrades and hard forks for Terra (LUNA), Kadena (KDA), and Sei (SEI). The exchange aims to ensure minimal disruption for its users while these updates take place. As a result, deposits and withdrawals for these tokens will be temporarily suspended, but trading activities will not be affected.
Terra (LUNA) Upgrade Set for 4th February 2025
The Terra (LUNA) network upgrade and hard fork are scheduled to occur at block height 14,154,000, approximately on 4th February 2025, at 17:00 UK time. To facilitate this transition, Binance will suspend deposits and withdrawals for LUNA from 16:00 UK time on the same day. This update is crucial as it involves the Axelar Bridge Account, which will burn the difference between on-chain Axelar assets and those recorded on Terra.
Kadena (KDA) Hard Fork Coming on 5th February 2025
The Kadena (KDA) blockchain will undergo a hard fork at block height 5,555,698, scheduled for 5th February 2025, at 02:00 UK time. As a precaution, Binance will halt deposits and withdrawals for KDA from 01:00 UK time. This upgrade will introduce Pact 5, a new version of its smart contract language, improving system performance and enhancing error messaging to create a more user-friendly experience.
Sei (SEI) Network Upgrade on 5th February 2025
The Sei (SEI) blockchain will undergo an upgrade at block height 129,965,597, estimated to take place on 5th February 2025, at 17:00 UK time. In preparation for this, Binance will temporarily disable deposits and withdrawals for SEI from 16:00 UK time.
What Binance Users Need to Know
While Binance ensures seamless execution of these updates, token trading will remain unaffected. Once the networks stabilize, deposits and withdrawals will be reinstated without requiring any additional announcements. The exchange is committed to providing full technical support to ensure users experience a smooth transition during these upgrades.
For more updates on cryptocurrency developments, stay tuned to The Bit Journal.
- https://twitter.com/Thebitjournal_
- https://www.linkedin.com/company/the-bit-journal/
- https://t.me/thebitjournal
Follow us on Twitter and LinkedIn and join our Telegram channel to get instant updates on breaking news!
The Bit Journal – Read More