The leading cryptocurrency exchange Binance has announced a temporary suspension of token deposits and withdrawals on the Polygon network due to a scheduled upgrade.
Reasons for the Suspension
According to Binance's announcement, the suspension will take place on July 1 at 8:10 a.m. UTC to support the Polygon network's upgrade. This upgrade aims to enhance the network's performance and scalability.
Bhilai Upgrade and Hard Fork
The Polygon network plans to launch a new update with the release of a new version of Bor, v2.1.1, which includes the Bhilai hard fork. The hard fork is scheduled for block 73440256, expected to be mined on July 1, 2025, at 9:10 a.m. UTC. Binance has assured that trading of tokens on the Polygon network will not be impacted during the upgrade.
New Trading Pairs on Binance
On the same date, Binance announced the launch of two new trading pairs with USDC: LPT/USDC and RVN/USDC. Trading for these pairs is expected to start on July 1 at 8:00 a.m. UTC, expanding the trading options available to users.
The Polygon network upgrade and the corresponding suspension of operations on Binance aim to ensure the stable performance of the platform and improve user experience.
