Binance, the world’s largest crypto exchange by trading volume, has recently announced that it will support the Stellar Lumens (XLM) upgrade. The exchange made this known in an announcement on Twitter a couple of hours ago.
According to the report, the Stellar Lumens network upgrade will take place at on the 8th of June 2022 at 15:00 (UTC). During the upgrade, deposits and withdrawals of the digital token XLM on the trading platform will be suspended.
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Binance exchange tweeted, “Binance Will Support the Stellar Lumens (XLM) Network Upgrade.”
#Binance will support the Stellar Lumens $XLM network upgrade. https://t.co/rdLiKdPzQw
— Binance (@binance) June 8, 2022
In a blog post captioned in the announcement, the exchange wrote:
“The Stellar Lumens (XLM) network upgrade will take place approximately at 2022-06-08 15:00 (UTC). Deposits and withdrawals of XLM will be suspended approximately starting from 2022-06-08 14:00 (UTC).”
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According to the exchange, users that are holding XLM are to note that:
- The trading of XLM will not be affected during the network upgrade.
- The Stellar Lumens (XLM) network upgrade will take place approximately at 2022-06-08 15:00 (UTC). The estimated time is for users’ reference only.
- Binance will handle all technical requirements involved for all users holding XLM in their Binance accounts.
- We will reopen deposits and withdrawals for XLM once we deem the upgraded network to be stable, and we will not notify users in a further announcement.
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