Binance Announces Support for Stellar Lumens (XLM) Network Upgrade

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.”

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:

1. The trading of XLM will not be affected during the network upgrade.
2. 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.
3. Binance will handle all technical requirements involved for all users holding XLM in their Binance accounts.
4. 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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