Binance ONT Suspension: Deposits & Withdrawals Paused Dec 1
Binance will suspend ONT deposits and withdrawals on Dec 1 at 07:00 UTC as part of a planned Binance ONT suspension to support the Ontology network upgrade. Spot trading remains available, allowing users to buy and sell ONT uninterrupted. The exchange has not provided a specific resumption time; services will resume once network stability is confirmed after the hard fork. During the pause, transfers to external wallets and incoming deposits will fail. This suspension aims to safeguard user assets while implementing enhanced security protocols, faster transaction speeds, and new features. Traders should complete urgent ONT transfers before Dec 1, monitor official announcements, and adjust their strategies accordingly.
Neutral
This suspension is a routine maintenance move tied to Ontology’s network upgrade. Historically, similar pauses at major exchanges (e.g. Ethereum forks) have had minimal long-term market impact. Spot trading of ONT remains unaffected, which maintains liquidity and trading volumes. In the short term, transfer restrictions could create minor price fluctuations as traders rush to move assets before the cutoff. In the long run, the upgrade’s improved security and performance could enhance ONT’s attractiveness, potentially supporting bullish sentiment. Overall, the news reinforces Binance’s operational reliability and network resilience, leading to a neutral market impact.