Binance continues to take big steps in the cryptocurrency world. The announcements it has made one after another in recent days have been of great interest to both its users and investors. In particular, developments such as the planned wallet maintenance for the Tron Network (TRX) and the end of support for some tokens invite users of the exchange to be careful. In addition to these developments, Binance continues to stay on the agenda with new token listings and airdrop announcements. Here is what you need to know about Binance’s announcements in the last few days and how they will affect users.
Binance plans wallet maintenance for the Tron Network (TRX)
Binance, one of the world’s largest cryptocurrency exchanges, announced that it will perform wallet maintenance for the Tron Network (TRX) on October 10, 2024 at 10:00. During this maintenance, deposits and withdrawals on the Tron network will be temporarily suspended starting at 09:55. According to Binance’s statement to its users, this maintenance will last approximately one hour and token transactions on the Tron network will not be affected during this period. This means that users will be able to continue to buy and sell TRX tokens.
Such maintenance is important for the security of users’ funds and the smooth operation of the network. Binance stated that wallets will be reactivated after the maintenance without requiring users to take any additional action. Token deposits and withdrawals connected to the Tron network will be automatically resumed once the maintenance is complete.
Token deposit and withdrawal option ends on some networks
Binance announced that it will stop token deposits and withdrawals made on some networks as of October 23, 2024. This particularly affects transactions made on the BNB Smart Chain. Binance advises its users to move their assets to other networks before the specified date and avoid possible fund losses.
The affected tokens include projects such as Beta Finance (BETA), Cream Finance (CREAM), Linear Finance (LINA), UNFI, HARD, CLV, PROS, VITE, OOKI, and IRISnet (IRIS). Users will be able to continue to deposit and withdraw these tokens on other supported networks. Binance recommends that everyone carefully check the networks before making transactions so that these changes do not negatively affect the user experience.
Good news for Chiliz (CHZ) holders about the airdrop
Another important announcement came for Chiliz (CHZ) token holders. Binance announced that it will organize a special airdrop for users who hold Chiliz tokens. As part of the airdrop, 150 Pepper (1000PEPPER) tokens will be distributed for every 1 CHZ. This distribution will be made by taking snapshots on certain dates. The first snapshot will be taken on October 10, 2024 and will continue at certain intervals thereafter.
Such airdrops offer attractive opportunities for investors and can cause an increase in token prices. In fact, the Chiliz (CHZ) price rose rapidly after this announcement by Binance. Users who want to participate in the airdrop must have a minimum of 100 CHZ in their accounts at the time of the snapshot. In addition, tokens transferred from margin accounts or borrowed from loans will not be included in the airdrop.
Binance Staked SOL (BNSOL) is listing
Binance recently announced that it will list a new token on its platform on October 10, 2024: Binance Staked SOL (BNSOL). This token will be a tradable token representing users’ Solana (SOL) staking rewards. Users will be able to earn up to 10% annualized yield (APR) by staking their BNSOL tokens. This allows investors to earn income without locking up their Solana holdings. Binance’s move adds flexibility to staking transactions and allows users to use their funds on different platforms without freezing them. In addition, Binance users will be able to earn extra rewards with special promotions for SOL stakers.
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