Binance, one of the world’s leading crypto exchange platforms, has announced a plan to temporarily suspend token deposits and withdrawals on the Sei and Sei EVM networks. This upgrade is part of Sei’s efforts to enhance network performance, security, and scalability.
Binance will support the Sei Network upgrade
According to the announcement published on Binance’s official website, the suspension will begin at 15:00 UTC on September 16 to let the platform prepare for a major upgrade to the Sei blockchain.
The announcement notes that the Sei network upgrade will take place at the block height of 102,491,599, which is expected to be reached by 16:00 UTC at the latest on the same day.
The firm adds that the decision to pause deposits and withdrawals will have no effect on token trading on either network. This implies that users can continue to purchase, sell, and trade SEI tokens while updating.
The exchange has guaranteed its customers that it would handle any technical issues that might arise during the upgrade.
Binance says it will restore all services once the network upgrade is “completed and deemed stable.” It will automatically reopen deposits and withdrawals for the affected tokens.
Amid the system upgrade, Binance has listed 3 new memecoins: First Neiro on Ethereum (NEIRO), Turbo (TURBO), and Baby Doge Coin (1MBABYDOGE) for trading today. The exchange has marked them with a “seed tag” to indicate their new, high-volatility status.
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Source: https://www.cryptonewsz.com/binance-halt-sei-network-transaction-upgrade/