Binance, one of the world’s leading cryptocurrency exchanges, made two major announcements that will affect the crypto community, in an important move that further strengthens its role in the cryptocurrency space. Now let’s examine the details of these developments. Here are the details…
MAV completed BNB Chain integration
Binance has successfully completed the integration of Maverick Protocol (MAV) on Binance Smart Chain (BEP20). This integration brings exciting new possibilities for MAV holders and the Binance community as a whole. From now on, users can initiate Maverick Protocol (MAV) deposits and withdrawals on Binance Smart Chain (BEP20). Additionally, a smart contract address is available for the Maverick Protocol (MAV) on BEP20. Currently, MAV is trading at $0.237213, up 0.2 percent.
Support for CTK and CFX upgrades from Binance exchange
In another notable announcement, Binance announced support for the upcoming network upgrades and hard fork of Shentu (CTK) and Conflux Network (CFX). Here are the basic details for each upgrade:
Shentu (CTK) network upgrade:
- Shentu block height is planned for 14,875,800.
- It is expected to take place approximately on September 6, 2023, at 16:30.
- CTK deposits and withdrawals will be temporarily suspended from approximately 15:30 on September 6, 2023.
- At the time of writing, Shentu is changing hands at $0.497495, an increase of 4 percent.
Conflux Network (CFX) network upgrade:
- It will occur in the Conflux epoch of 79,050,000.
- Deposits and withdrawals to CFX will be temporarily suspended from approximately 19:00 on September 7, 2023.
- CFX is changing hands at $0.121583, down 0.3 percent at the time of writing.
What do these announcements mean?
It is important to note that these network upgrades and hard forks will not impact CTK and CFX trading on the Binance platform. Binance will meet all technical requirements for users holding CTK and CFX in their accounts. Importantly, these upgrades will not result in the creation of new tokens. Binance will reopen deposits and withdrawals for CTK and CFX once the upgraded networks are deemed stable. There will be no separate announcement for this, so users are advised to follow the platform for updates.
In summary, Binance’s integration of Maverick (MAV) into Binance Smart Chain and support for the upcoming Shentu (CTK) and Conflux Network (CFX) network upgrades demonstrates the exchange’s commitment to providing its users with a seamless and secure crypto trading experience. These developments further strengthen Binance’s position as a key player in the cryptocurrency ecosystem.
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