Binance.US has announced that it will support Avalanche and Tezos in upgrading the network. The Avalanche (AVAX) network upgrade is scheduled for December 2, 2021 at 1:00 p.m. EST / 10:00 a.m. PST. Starting December 2, 2021 at 12:00 PM EST / 9:00 AM PST, deposits and withdrawals of all AVAX tokens will be suspended for one hour.
The Tezos (XTZ) network will be upgraded on December 3, 2021 at the Tezos block height of 1,916,929 or around 11:20 a.m. EST / 8:20 a.m. PST on December 3, 2021. From approximately 2021-12-03 10:20 a.m. EST / 7: 8:00 p.m. PST, XTZ deposits and withdrawals will not be processed for an hour.
Here are a few things to keep in mind
- The Avalanche (AVAX) network upgrade is scheduled for December 2, 2021 at 1:00 p.m. EST / 10:00 a.m. PST. The estimated time is for the convenience of users only.
- The Tezos (XTZ) network will be upgraded on December 3, 2021 at around 11:20 a.m. EST / 8:20 a.m. PST at Tezos block height 1,916,929. The scheduled time is for the convenience of users only and is subject to change. on block terms.
- AVAX and XTZ trading will remain unaffected during the improvements.
- All technical requirements for customers who have AVAX and XTZ in their Binance.US accounts are handled by Binance.US.
- Due to the network updates Avalanche (AVAX) and Tezos (XTZ), no new tokens will be issued.
- AVAX and XTZ deposits and withdrawals will reopen once the updated networks are deemed reliable and no further notification will be given.
What is avalanche (AVAX)?
Ava Labs’ Avalanche Smart Contract technology builds unique blockchain networks and decentralized apps (dApps). In addition, the native AVAX token is Avalanche’s account and acts as a permanent utility for the delivery token, which is used to pay transaction fees and participate in the consensus process.
Binance.US is a cryptocurrency trading platform for individuals and organizations headquartered in the USA. Bitcoin, along with other 50 cryptocurrencies currently supported by the investment platform.
Binance also offers crypto trading pairs, staking incentives, secure storage, over-the-counter (OTC) trading, and other services.