Binance Announces Support for Chiliz (CHZ) and MultiversX (EGLD) Network Upgrades & Hard Forks

Luisa Crawford  May 17, 2024 16:37  UTC 08:37

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Binance Supports Chiliz (CHZ) and MultiversX (EGLD) Network Upgrades and Hard Forks

In a recent announcement, Binance, one of the world's leading cryptocurrency exchanges, has declared its support for the network upgrades and hard forks of Chiliz (CHZ) and MultiversX (EGLD). These upgrades aim to enhance the user experience on the respective networks.

Details of the Network Upgrades

The Chiliz (CHZ) network upgrade and hard fork are expected to occur at the block height of 13,189,711, approximately on 2024-05-20 at 07:00 UTC. In preparation for this change, Binance will suspend the deposits and withdrawals of CHZ tokens on the network starting from 2024-05-20 at 06:00 UTC.

Similarly, the MultiversX (EGLD) network upgrade is scheduled for 2024-05-21 at 16:20 UTC. Binance will also suspend the deposits and withdrawals of EGLD tokens on the MultiversX network starting from approximately 2024-05-21 at 15:20 UTC.

Impact on Trading and User Experience

Binance reassures its users that the trading of tokens on the aforementioned networks will not be affected by these changes. The exchange will handle all technical requirements for all users, ensuring a seamless transition during the upgrades. Deposits and withdrawals for tokens on the upgraded networks will be reopened once the networks are deemed to be stable. Binance will not post a further announcement regarding this.

Binance continues to provide support for major network upgrades and hard forks in the cryptocurrency space, enhancing its platform's user experience and solidifying its position as a leading global cryptocurrency exchange.

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