Binance announced it will support the MultiversX (EGLD) network upgrade scheduled for March 25, 2025, aimed at enhancing the platform’s scalability.
This network upgrade is significant for MultiversX’s position in the cryptocurrency market and has prompted reactions from community stakeholders and market observers.
MultiversX to Enhance Scalability on March 25
The MultiversX network upgrade is set to improve the blockchain’s scalability and functionality. Binance plans to support this upgrade scheduled for March 25, 2025.
The network upgrade involves key stakeholders including Binance. This change is expected to enhance performance and facilitate more transactions, optimizing the MultiversX ecosystem.
116.30% Trading Volume Surge for MultiversX
CoinMarketCap data indicates MultiversX’s current price at $18.62 with a market cap of $521 million. Its trading volume surged by 116.30% in the last 24 hours. Recently, the price increased over 2% in seven days.
Experts predict potential effects on EGLD’s technological advancements post-upgrade. Historical trends show upgrades have often led to temporary market fluctuations. Stakeholders hope for positive regulatory impacts facilitating broader blockchain adoption and integration.
Ethereum’s Upgrade Precedents and MultiversX Potential
Historically, blockchain networks upgrade to handle more transactions. Bitcoin and Ethereum have undergone similar enhancements for scalability, setting precedents for MultiversX upgrades.
Expert analysis from Kanalcoin highlights similarities to past upgrades such as Ethereum’s enhancements. EGLD’s upgrade could follow the pattern of increased adoption and technical sophistication as seen historically.
“Starting at approximately 2025-03-25 15:30 (UTC), Binance will suspend the deposits and withdrawals of token(s) on the MultiversX (EGLD) network to support its network upgrade to ensure the best user experience.” – Binance Announcement Team, Official Announcement, Binance
