Binance will temporarily stop deposits and withdrawals for Cardano holders for a short time.
Binance, the largest digital asset exchange by trading volume, has announced that Cardano will support the upcoming and highly anticipated Alonzo update. During this period, ADA holders will not be able to temporarily deposit or withdraw their cryptocurrency. However, the trades that will be made will not be affected by the hard-fork.
The following statements were used in the statement:
Binance stated that it will meet all relevant technical requirements for all users holding ADA. However, it will reopen deposits and withdrawals for ADA assuming there is no problem with the upgraded network.
At the time of writing, ADA was trading at $2.56 after a 12.3% rise according to Coinecko data.
Risk Disclosure: The articles and articles on Arover.net do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies.