Binance, one of the leading cryptocurrency exchanges, has announced its support for the upcoming network upgrades and hard forks of Shentu (CTK) and Rootstock Infrastructure Framework (RIF). According to Binance, these updates are aimed at ensuring the best user experience on their platform.

Details of the Upgrades

The Shentu (CTK) network upgrade and hard fork is scheduled to occur at the block height of 19,525,000, which is estimated to be around 2024-07-23 at 10:00 (UTC). In preparation for this event, Binance will suspend deposits and withdrawals of tokens on the Shentu network starting from approximately 2024-07-23 at 09:00 (UTC).

Similarly, the Rootstock Infrastructure Framework (RIF) network upgrade and hard fork is set to take place at the block height of 6,549,300, or around 2024-07-24 at 10:00 (UTC). Binance will cease deposits and withdrawals of tokens on the Rootstock network from around 2024-07-24 at 09:00 (UTC).

Impact on Trading

Binance has clarified that the trading of tokens on the Shentu and Rootstock networks will not be affected during these upgrades. The exchange will manage all technical requirements to ensure a seamless transition for users. Deposits and withdrawals will be resumed once the upgraded networks are deemed stable.

User Guidance and Precautions

Binance has advised users to anticipate a temporary suspension in deposits and withdrawals during the upgrade periods. They have also noted that no further announcements will be made regarding the reopening of these services once the networks are stable.

Users are encouraged to stay updated through Binance’s official channels to avoid any discrepancies that may arise from translated versions of the announcement. The original announcement can be found here.

Market Risks and Advisories

Binance also issued a disclaimer regarding the high market risk and price volatility associated with digital assets. Users are reminded that the value of their investments can fluctuate, and they should make informed decisions based on their financial situation and risk tolerance. Consulting an independent financial adviser is recommended before making any investment decisions.

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