Cryptocurrency exchange Binance has announced it will temporarily halt deposits and withdrawals on the Vana network for a scheduled upgrade set for 19:00 TRT on July 14, 2025. However, trading activities related to altcoin pairs linked to the Vana network will continue uninterrupted.
What is the Vana Network Update?
The update relates to the Vana blockchain reaching block height 4,009,180, which aims to improve network functionality. Binance assures that it will handle all technical aspects, ensuring users need not take any action to protect their assets during this period.
How Will Users Be Affected During the Upgrade?
While wallet activities will be inactive, trading on altcoin markets paired with VANA coins will continue smoothly. This ensures ongoing market liquidity, allowing users to manage their positions without hindrance. Deposit and withdrawal activities are expected to resume efficiently once the network’s new version stabilizes.
Major Takeaways from Binance's Announcement
Key points from the announcement include:
* Block height milestone of 4,009,180 for the upgrade. * Binance will address all technical aspects, requiring no action from users. * Wallet transactions will be temporarily halted, but trading will continue. * No change to deposit addresses or additional fees for users.
Once the network demonstrates stability after the upgrade, Binance will seamlessly resume wallet-based transactions without additional announcements. This proactive approach emphasizes their ongoing commitment to providing a secure and stable cryptocurrency trading environment.
