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Binance exchange has announced it is performing a live upgrade on its wallet network today, July 31. Through this upgrade, Binance aims to improve the network's performance and ensure it becomes smooth and user-friendly.
What Binance users can expect
In its announcement, Binance said the upgrade will take approximately 15 minutes. During this time, deposits and withdrawals for all networks will be suspended.
However, users can still trade tokens during wallet maintenance. Binance assured users that it will open deposits and withdrawals once the network becomes stable.
Notably, the network upgrade comes shortly after Binance Wallet launched a new trading tool, DEX Pro mode, for experienced traders. This tool, powered by the innovative Secure Auto Sign feature, enables a new kind of limit order that offers greater flexibility.
It also improved cost efficiency and offered more advanced order management compared to traditional decentralized exchanges. These offerings and the latest upgrade are part of the moves by the trading platform to bring value to its users.
Before this release, Binance launched RWUSD, a unique on-chain asset that allows its holders to receive up to 4.2% in annualized yield. It also aims to benchmark returns in high-quality real-world assets (RWA), such as tokenized U.S. Treasury bills.
BNB in rebound mode
Binance Coin (BNB) appears to be benefiting from the positive developments in the ecosystem. Over the past 24 hours, BNB has increased by 0.5% to $807.8. Although the increase is small, it suggests price recovery after intense volatility in the past few days.
On the weekly and monthly charts, the BNB price surged 5.7% and 24%, respectively. The market cap also increased to $112.6 billion.
Besides this, BNB recently reached a historical record, moving to 186th place in the global asset rankings. As a result, BNB surpassed global firms, including Michael Saylor’s Bitcoin treasury company, Strategy, UniCredit bank, Nike and SoftBank.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team