Binance to delist 3 pairs, suspend 14 networks for Ethereum upgrade

Binance will implement two major platform changes this week as Ethereum prepares for a key hard fork. The crypto exchange will delist three spot trading pairs due to poor liquidity and low volumes, while deposits and withdrawals across 14 networks will be paused temporarily to support Ethereum’s network upgrade. The suspension , scheduled for 7 May 2025 at 09:45 UTC, will take effect just 20 minutes before Ethereum’s hard fork begins. The exchange says these actions are part of its broader efforts to maintain stability, security, and seamless user operations during infrastructure changes. Starting 03:00 UTC on 9 May, Binance will delist three underperforming spot trading pairs: ANIME/BNB, STRK/BTC, and THE/BTC. According to Binance, the removal is due to consistently low trading activity and limited liquidity, which can lead to poor price discovery and a subpar user experience. Users holding open positions in these pairs have until the delisting deadline to adjust or close them. Binance did not announce any direct impact on the underlying tokens themselves, which remain listed on the platform via other trading pairs. The move reflects Binance’s ongoing practice of pruning inactive or illiquid markets from its trading interface to streamline operations and reduce exposure to risks associated with thin markets. Network suspensions on 7 May In preparation for Ethereum’s latest hard fork, Binance will temporarily suspend deposits and withdrawals on 14 blockchain networks at 09:45 UTC on 7 May, approximately 20 minutes before the fork at 10:05 UTC. The networks affected include Ethereum (ETH), Arbitrum (ARB), Optimism (OP), zkSync Era (ZKSYNC), Base (BASE), Manta Network (MANTA), Starknet (STRK), Polygon (POL), Metis (METIS), Scroll (SCR), Cyber (CYBER), Metal DAO (MTL), Celo (CELO), and Worldcoin (WLD). Binance has clarified that all impacted services will resume once the upgraded Ethereum network is deemed stable and secure. Trading of tokens on these networks will remain unaffected during this time. Ethereum fork details Ethereum’s upcoming hard fork is expected to introduce a set of protocol-level enhancements aimed at boosting efficiency and security. While the exact features of the upgrade have not been outlined in Binance’s statement, such forks often include improvements related to gas fees, block finality, or protocol rules. By suspending transactions on networks closely tied to Ethereum, Binance is mitigating risks linked to network instability, transaction failures, or asset loss during the upgrade process. These steps are routine for major exchanges during such events and are aligned with risk-mitigation practices across the industry. Trading remains active Despite the widespread suspension of deposits and withdrawals across major networks, Binance has confirmed that trading activity will continue uninterrupted. Users can still buy, sell, and convert assets, though they will be unable to move tokens in or out of the platform via affected chains during the maintenance window. This approach ensures market continuity and gives users the ability to react to price movements without network-level constraints. Users are encouraged to complete any time-sensitive transfers before the suspension takes effect. The post Binance to delist 3 pairs, suspend 14 networks for Ethereum upgrade appeared first on Invezz

Source: Invezz