Binance, a leading cryptocurrency exchange, announced its support for the Polygon (POL) network upgrade and hard fork, scheduled for completion by July 1, 2025.
This upgrade’s significance lies in ensuring enhanced network performance, potentially influencing POL token transactions and broader technological advancements.
Binance Pauses Transactions for Seamless Polygon Upgrade
Binance endorses the Polygon upgrade, pausing deposits and withdrawals to facilitate a seamless transition. According to Binance, “Binance will support the Polygon (POL) network upgrade and hard fork at the block height of 73,440,256, or approximately at 2025-07-01 09:10 (UTC)… Deposits and withdrawals on the Polygon network will resume once we deem the upgraded network to be stable.” The upgrade aims to boost network stability and security, addressing technological demands.
The Polygon project team, responsible for network enhancements, initiated this upgrade. Binance’s temporary action emphasizes the network’s development focus, aligning with past strategies for secure transitions.
Minimal Disruptions Expected in POL Token Trading
No disruptions in trading activities are predicted during the upgrade period, which primarily affects the native POL tokens and related assets, maintaining trading stability.
Historical data suggests a temporary pause in services during such upgrades, with Binance ensuring minimal financial or market disturbances post-upgrade, aligning with its operational procedures.
Standard Operating Procedures During Network Upgrades
Previous Polygon upgrades have prompted brief pauses as seen with other Layer 2 solutions like Arbitrum, demonstrating a standard operational approach during network improvements by exchanges.
Experts note that such upgrades often enhance network capabilities without lasting market impacts, supporting uninterrupted technological innovation and user safety, a common trend in similar upgrades.
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