Binance continues to make waves in the crypto world with a series of announcements that impact both users and investors. Recent updates include wallet maintenance for Tron Network (TRX), the end of token support on some networks, new token listings, and exciting airdrop news. Here’s a summary of Binance’s latest announcements and how they could affect users.
Wallet Maintenance for Tron Network (TRX)
Binance, one of the world’s largest cryptocurrency exchanges, has scheduled a wallet maintenance for Tron Network (TRX) on October 10, 2024, at 10:00 AM. During the maintenance, changes will occur on the Tron network, and deposit and withdrawal services will be temporarily suspended from 9:55 AM. However, Binance reassured users that the maintenance will last around an hour, and trading for TRX tokens will not be affected. Users can continue buying and selling TRX throughout the process.
This maintenance is crucial to ensure the security of user funds and the smooth functioning of the network. Binance stated that wallets will automatically reactivate post-maintenance without the need for any user action.
Withdrawal Options Ending for Certain Networks
On October 23, 2024, Binance will cease deposit and withdrawal services on certain networks, particularly impacting transactions made via BNB Smart Chain. Binance has advised users to transfer their assets through other networks before the deadline to avoid potential losses.
The affected tokens include Beta Finance (BETA), Cream Finance (CREAM), Linear Finance (LINA), UNFI, HARD, CLV, PROS, VITE, OOKI, and IRISnet (IRIS). Users will still be able to deposit and withdraw these tokens through other supported networks. Binance encourages users to double-check network availability before making transactions to avoid any inconvenience.
Advertisement Banner
Chiliz (CHZ) Airdrop Excitement
Another notable announcement from Binance is the Chiliz (CHZ) airdrop. Binance will distribute 150 Pepper (1000PEPPER) tokens for each CHZ held by users. This airdrop will be distributed through snapshots taken on specific dates, starting from October 10, 2024.
Airdrops like this are attractive opportunities for investors, often resulting in price spikes for the tokens involved. Indeed, following Binance’s announcement, Chiliz (CHZ) saw a rapid increase in price. To qualify for the airdrop, users must have at least 100 CHZ in their accounts during the snapshot. It’s important to note that margin accounts and borrowed tokens will not be eligible for the airdrop.
Binance Lists Binance Staked SOL (BNSOL)
On October 10, 2024, Binance will also introduce a new token to its platform: Binance Staked SOL (BNSOL). This token allows users to represent their Solana (SOL) staking rewards in a tradable form. By staking BNSOL, users can earn up to 10% annual yield (APR), offering flexibility in earning rewards without locking up their funds.
This new offering provides Binance users with more flexibility for staking, allowing them to use their assets across various platforms without freezing them. Additionally, Binance will run exclusive promotions for users staking SOL, offering extra rewards.
- 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 be instantly informed about breaking news!
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
