Binance Pauses ZIL Deposits & Withdrawals for Zilliqa Fork
Binance will temporarily suspend Zilliqa (ZIL) deposits and withdrawals from June 22, 23:00 UTC, to support the Zilliqa network upgrade and hard fork at block height 4,770,087 scheduled for June 23, 00:00 UTC. ZIL trading remains unaffected, and Binance will provide full technical support throughout the maintenance window. Deposits and withdrawals will automatically resume once the upgrade is successfully completed, with no further announcements required. Traders are advised to complete any ZIL transfers before the suspension to avoid delays. This routine procedure aims to ensure network security and stability.
Neutral
Temporarily halting ZIL deposits and withdrawals is a standard safeguard during major network upgrades. Since trading remains uninterrupted and services automatically resume after the fork, the immediate market impact on ZIL price is minimal. In the short term, traders may experience minor inconvenience, but there is no trading halt to drive significant volatility. In the long term, successfully completing the upgrade enhances network security and may bolster investor confidence, potentially supporting a more stable or slightly positive outlook for ZIL.