Binance BTC Wallet Maintenance on Nov. 3 & Delisting 25 Pairs: Update

Binance, a significant player in the crypto exchange realm, has scheduled a wallet maintenance session for the Bitcoin (BTC) network on November 3. This strategic move aims to enhance operational aspects but temporarily suspends BTC withdrawals for approximately 30 minutes starting at 02:00 (UTC). However, it’s noteworthy that deposits and trading activities of digital assets/currencies on the Bitcoin network will remain unaffected during this period.

In a similar instance in May, Binance halted Bitcoin withdrawals due to surging processing fees and heavy transaction volumes. This move was a result of a backlog of pending transactions caused by the inability to offer sufficient incentives to miners for transaction logging. To prevent future occurrences, Binance updated its fee structure, addressing the issue by providing appropriate rewards to miners.

Additionally, in March, the exchange experienced tech-related challenges, resulting in the suspension of deposits and withdrawals.

Delisting of 25 Trading Pairs

In a parallel announcement, Binance revealed the delisting of 25 trading pairs. This measure is part of the exchange’s routine evaluations aimed at upholding a high-quality trading market and protecting users. Trading pairs may be delisted due to various factors, including poor liquidity and trading volumes.

These pairs will be ceased in two batches on November 3. Significantly, the delisting of a spot trading pair will not affect the availability of tokens on Binance Spot. Users can still engage in trading activities with the base and quote assets through other available trading pairs.

Binance advises users to update or cancel their Spot Trading Bots before the cessation of Spot Trading Bots services. This measure mitigates potential losses, demonstrating the exchange’s commitment to user protection and seamless operational transitions.