Binance renders support for the IoTex (IOTX) Upgrade & Hard Fork
The users will not be affected to trade IOTX during the network upgrade.
IoTex upgrade will start from 2022-03-24 23:00 (UTC)
The IoTex is in the process of upgrading its network as it is serving as a growing ecosystem of projects. The main specialty of the IoTex platform is that its products are developed by the members of the IoTex community. Besides, the upgrades are coming up as the IoTex platform promised to build the connected digital world.
Thus, with respect to the IoTex (IOTX) upgrade and hard fork, Binance is supporting the network without affecting the users. Moreover, the update of the network takes place at the IoTex block height of 16,509,241. It is starting from 2022-03-24 23:00 (UTC).
Binance Exchange – IoTex Upgrade
As Binance is operating as the world’s largest and leading crypto exchange, it holds millions of active users trading in its platform. Thus, for any upgrades from the listed tokens or network, Binance takes initiative to inform its users for safe trading. On that note, Binance announced to support the IoTex upgrades and Hard fork taking place tomorrow.
Further, in line with the upgrade, the deposits and withdrawals of IOTX tokens will be on pause starting from 2022-03-24 22:00 (UTC). More so, Binance reveals a note for its users stating, the trading of the IOTx will not be affected during the network upgrade and hard fork.
Following the note, Binance team will take over all the further technical requirements involved for all users holding IOTX token in their Binance accounts. In addition, to make the users feel safe, Binance also shared that IoTex (IOTX) upgrades will not affect the creation of new tokens on the exchange.
However, the crypto market and trading of digital currencies is always unpredictable and sometimes at risk. Thus, the exchange advises its users to trade their digital assets cautiously. Therefore, prior announcements are released to inform the users about the current status of the cryptocurrencies and its updates.
Moreover, the suspended deposits and withdrawals for the IOTX will reopen once the network is stable with flawless operations.