Binance to Temporarily Halt aelf Network Deposits and Withdrawals for Upcoming Upgrade

In anticipation of a network update, Binance has announced that it will temporarily suspend token deposits and withdrawals on the aelf network on January 15, 2025, at 17:00 (UTC+8). This planned update aims to enhance the overall user experience on the ELF blockchain.

Upgrade Details

The upgrade is scheduled to occur at block height 252,256,057 and is expected to commence at approximately 18:00 UTC+8 on the same day. During this time, users will still be able to trade ELF tokens normally on the Binance platform, but deposit and withdrawal services will be temporarily unavailable.

Users are advised to deposit their ELF tokens in advance to avoid any potential interruptions.

Once the upgrade is complete and the network is stable, deposits and withdrawals will resume automatically without further notice.

About aelf (ELF)

aelf (ELF) is a decentralized blockchain for cloud computing that aims to provide a scalable ecosystem. Its primary goal is to create a flexible blockchain capable of supporting various industries and applications.

Token Performance

At the time of writing, ELF is priced at $0.5016 with a market valuation of $369.18 million. The token’s $28.57 million in trading volume demonstrates a 34.36% drop in the past 24 hours.

Network Upgrades and Their Importance

Token upgrades refer to modifications made to a blockchain network’s core protocol or structure to improve its usability, security, or overall functionality. In this case, the ELF network upgrade is expected to boost both performance and scalability, essential for the continued growth and success of the ecosystem.

Binance’s Commitment to Supporting Network Upgrades

Throughout 2024, Binance has actively supported network upgrades for several prominent tokens, including the Ethereum (ETH) Shanghai upgrade, the Dash network upgrade and hard fork, and the upcoming Optimism network update.

As part of its ongoing commitment to enhancing the blockchain ecosystem and providing users with the best possible experience, Binance is dedicated to ensuring smooth transitions during these upgrades.

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