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Binance Announces Support for Cardano’s Alonzo Hard Fork

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Thu, 09/09/2021 - 06:42
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Alex Dovbnya
Binance will temporarily halt deposits and withdrawals for Cardano holders
Binance Announces Support for Cardano’s Alonzo Hard Fork
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Binance, the largest digital asset exchange by trading volumes, has announced that it will support Cardano’s upcoming Alonzo upgrade.

The holders of ADA will temporarily not be able to deposit or withdraw the cryptocurrency. However, trading will not be impacted by the hard fork.     

As reported by U.Today, Cardano’s most important upgrade to date, which will make it possible to launch smart contracts on the proof-of-stake blockchain, will officially take place on Sept. 12.

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The hard fork will commence at around 21:44 UTC. Binance will resume deposits and withdrawals as soon as the upgrade is considered to be stable.  

ADA is currently trading at $2.53 on Binance after a 6% spike. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.