Headquartered in Malta, Binance, the leading cryptocurrency exchange in terms of trading volume has announced the news about the Binance network lending support to the highly anticipated forthcoming event, the upgrade of the Kava (KAVA) Mainnet ecosystem.
The news was circulated in the crypto industry through an official Twitter post which read:
As per this Binance exchange news, the deposits and withdrawals of KAVA will be stopped on the Binance network from June 10, 2020, at 9:00 AM (UTC). The Binance team has affirmed that the users will not face any trouble in the trading of KAVA during the upgrading execution.
It is advised to the KAVA owners to allot ample time for the complete processing of deposits in advance to the time period reserved for the upgrading event. The crypto exchange has assured to tackle all the technical issues involved during the mainnet upgrade to give a systematized working space to all the users holding KAVA in their Binance accounts on the network.
Binance will not inform its user community about the reopening of the deposits and withdrawals for KAVA on achieving the required stability on the upgraded system. The upgrade shall not lay the foundation of the creation of a new token.