Binance Suspends Deposits and Withdrawals on BNB Smart Chain for Wallet Maintenance
Binance users will not be able to make deposits and withdrawals on the BNB Smart Chain as it will be suspended temporarily while the platform carries out wallet maintenance.
As per a recent announcement by Binance, the exchange is set to conduct wallet maintenance on the BNB (BNB) Smart Chain starting from April 17 at 06:00 UTC. During this period, the network will be temporarily down for repairs, leading to a halt in deposits and withdrawals on the BNB Smart Chain.
The suspension of deposits and withdrawals for the BNB Smart Chain will commence five minutes before the scheduled wallet maintenance, with a pause set for April 17 at 05:55 UTC.
Despite the temporary network suspension, users will still have the ability to trade BNB tokens, as token trading activities will not be affected by the maintenance work.
According to the announcement, the wallet maintenance process is estimated to take around an hour to complete. However, the resumption of deposits and withdrawals will depend on the network’s stability post-maintenance.
BNB Smart Chain and BEP-20 Tokens
BEP-20 is the standard for tokens deployed on the BNB Smart Chain, previously known as the Binance Smart Chain. It is designed to be interoperable with ERC-20 tokens on Ethereum (ETH) and serves as the foundation for various crypto assets on the BNB Smart Chain.
According to data from DeFi Llama, the BSC boasts a total value locked of $5.14 billion, with 1.25 million active addresses on-chain. In the last 24 hours, the network has generated $613,348 in chain fees and $667 million in DEXs volume.
The BNB Smart Chain hosts over 1,500 decentralized apps (dApps), primarily focusing on DeFi protocols, especially decentralized exchanges. Additionally, the network sees participation from around 1,000 projects spanning various sectors.