Binance supports Kava (KAVA) network upgrade amid suspension of deposits and withdrawals

Binance, one of the leading cryptocurrency exchanges, is set to support the upcoming upgrade to the Kava (KAVA) network, the platform announced. This upgrade will entail the temporary suspension of deposits and withdrawals on the Kava network starting 21 November 2024, 14:00 UTC.

Network upgrade details

The Kava network is scheduled to be upgraded at block height 12,766,500, which is estimated to take place at approximately 15:00 UTC on the same day. Binance has assured its users that trading of KAVA tokens will not be affected during this period. The exchange will manage all technical requirements to ensure a smooth transition for its users.

Implications for users

While deposits and withdrawals will be paused, Binance has confirmed that these services will resume once the upgraded network is deemed stable. However, no further announcements will be made regarding the reopening of these services. Users are advised to plan accordingly and monitor the situation closely.

Technical support and warranty

Binance has pledged to handle all technical aspects of the upgrade, ensuring that users experience minimal disruption. The exchange has also highlighted that any discrepancies between the different language versions of the announcement should be referred to the original English version for accuracy.

For more detailed information about the upgrade, users are advised to refer to the official announcement made by the Kava project team here.

As the cryptocurrency market continues to evolve, network upgrades like these are essential to maintaining the security and efficiency of blockchain networks. Binance's proactive support of such upgrades underscores its commitment to providing a seamless trading experience for its users.

For more details, visit the official announcement at Binance.

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