Binance to Suspend Qtum (QTUM) Deposits and Withdrawals for Network Upgrade and Hard Fork
Binance will temporarily suspend deposits and withdrawals for Qtum (QTUM) starting at 14:30 on February 15, 2025, due to a scheduled network upgrade and hard fork. The upgrade will occur at block height...
Binance will temporarily suspend deposits and withdrawals for Qtum (QTUM) starting at 14:30 on February 15, 2025, due to a scheduled network upgrade and hard fork.
The upgrade will occur at block height 4,590,000, estimated for 15:30 (GMT+8) on the same day. Trading of QTUM will remain unaffected, but users are encouraged to deposit their tokens in advance.
To ensure a smooth transition, the platform will manage all technical aspects of the upgrade and resume deposit and withdrawal services once network stability is confirmed. However, the exchange has stated that no further announcements will be made regarding reopening these services. Additionally, Binance has clarified that in case of any discrepancies between translated versions of the announcement, the English version should be considered the most accurate.
Similarly, the crypto exchange platform recently halted Cardano (ADA) deposits and withdrawals on January 29, 2025, at 20:45 UTC for a network upgrade and hard fork. The Plomin hard fork introduced a decentralized governance model, allowing ADA holders to vote on proposals or delegate votes. The upgrade took place at 21:45 UTC, with trading remaining unaffected. Binance managed all technical aspects and resumed deposits and withdrawals once the network stabilized. No further announcements were made, and users were advised to stay informed.
Notably, Binance has also announced the listing of two new tokens, Cheems (1000CHEEMS) and Test (TST), which will be available for trading in pairs such as 1000CHEEMS/USDT, 1000CHEEMS/USDC, TST/USDT, and TST/USDC. Deposits for these tokens will begin shortly after the announcement, while withdrawals will be accessible by 19:00 (GMT+8) on February 10, 2025. Each token comes with a seed label, indicating increased volatility and risk, and users are required to complete Binance’s risk assessment every 90 days to continue trading. Binance advises users to conduct thorough research before trading, as newly listed tokens can experience significant price fluctuations.
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Buddy Jewel is a finance writer specializing in cryptocurrency news. With a keen eye on the latest developments in the digital asset space, I provides insightful and timely updates on the ever-evolving world of crypto.
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