Binance.US has announced that it will be supporting Avalanche and Tezos 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 at 12:00 p.m. EST / 9:00 a.m. PST on December 2, 2021, deposits and withdrawals of all AVAX tokens will be on hold for one hour.
The Tezos (XTZ) network will be upgraded 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 about 2021-12-03 10:20 a.m. EST / 7:20 a.m. PST, XTZ deposits and withdrawals will not take place for one hour.
Here are a few things you need to note
- The Avalanche (AVAX) network upgrade is scheduled on December 2, 2021, at 1:00 p.m. EST / 10:00 a.m. PST. The estimated time is provided solely for the convenience of the users.
- The Tezos (XTZ) network will be upgraded at the Tezos block height 1,916,929, around 11:20 a.m. EST / 8:20 a.m. PST on December 3, 2021. The scheduled time is provided solely for users’ convenience and is subject to change based on block propagation times.
- During the improvements, AVAX and XTZ trade will be unaffected.
- All technical needs for customers holding AVAX and XTZ in their Binance.US accounts will be handled by Binance.US.
- There will be no new tokens issued due to the Avalanche (AVAX) and Tezos (XTZ) network updates.
- AVAX and XTZ deposits and withdrawals will be reopened once the updated networks are deemed reliable, and no further notice will be made.
What is Avalanche (AVAX)?
Ava Labs’ Avalanche smart contract technology builds unique Blockchain networks and decentralized apps (dApps). Moreover, the native AVAX token is Avalanche’s account and acts as the fixed utility for supply token used to pay transaction fees and stake in the consensus process.
About Binance.US
Binance.US is a Cryptocurrency trading platform for individuals and organizations headquartered in the United States. Bitcoin, along with other 50 cryptocurrencies, presently supported by the investing platform.
Binance also provides pairs of crypto trading, staking incentives, safe storage, over-the-counter (OTC) trading, and other services.