Binance, the industry’s largest cryptocurrency exchange, announced We are planning maintenance of the Ethereum network. The exchange said it may record temporary suspensions as an early precautionary measure, but reassured users that funds deposited with the exchange are safe.
Binance faces outage
According to a public announcement, scheduled maintenance will begin on February 24th at 6am UTC.
Notably, associated maintenance work is not uncommon, with Binance stating that the estimated downtime for this network is one hour. To further prepare users, the exchange confirmed that it will suspend deposits and withdrawals at least five minutes in advance.
Tomorrow, February 24th, the Ethereum network will perform a simple wallet maintenance.
🔸Start: 06:00 UTC
🔸 Estimated downtime: 1 hour
🔸 Note: Deposits/withdrawals will be paused 5 minutes before the start.The funds are SAFU! 🙏
👉 https://t.co/0Gc6vnytL3?from=article-links pic.twitter.com/vMFdJndl1u
— Binance (@binance) February 23, 2026
Considering how volatile the market is; negative comments The exchange needed to openly report the latest information regarding Binance and its operations.
To further clarify, Binance said that trading of tokens on the Ethereum network will not be affected. After the maintenance is complete, the cryptocurrency exchange said it will resume withdrawals once it deems the network to be stable enough.
Binance plays an important role in the broader cryptocurrency industry, supporting relevant upgrades and maintenance of assets listed on its platform, as well as new protocols. integration.
Is there a good time to upgrade to Ethereum?
As many analysts have pointed out, Binance is a favorite liquidity hub for investors. Its popularity has made it the largest market for top assets such as Bitcoin and Ethereum, covering both spot and derivatives markets.
The timing of Ethereum’s maintenance has drawn concern from the market as the price continues to plummet. At the time of writing, Ethereum price is down 2.72% in 24 hours to $65,828.
Ethereum joins list of leading assets Outflow of virtual currency funds Last week, XRP and Solana maintained moderate inflows. As the general sentiment is currently bearish, holding on to Binance can be considered a preparation for a possible market recovery.
