Binance to Support Harmony (ONE) and VITE (VITE) Network Upgrades

Binance, a leading cryptocurrency exchange, has announced its support for the upcoming network upgrades and hard forks of Harmony (ONE) and VITE (VITE), according to Binance. These updates are scheduled for October 31, 2024, and are aimed at enhancing user experience.

Harmony (ONE) Network Upgrade

The Harmony (ONE) network upgrade and hard fork are set to occur at block height 64,847,872, approximately at 13:00 UTC on October 31. In preparation, Binance will suspend deposits and withdrawals on the Harmony network starting around 12:00 UTC on the same day. However, trading of Harmony tokens will remain unaffected during this period.

VITE (VITE) Network Upgrade

Similarly, the VITE (VITE) network upgrade will take place at block height 166,869,900, approximately at 14:30 UTC on October 31. Binance will suspend deposits and withdrawals for VITE tokens starting around 13:30 UTC. As with Harmony, trading of VITE tokens will not be impacted by these changes.

Technical Support and Stability

Binance has assured users that it will handle all technical requirements associated with these upgrades. The exchange plans to reopen deposits and withdrawals for both networks once stability is confirmed post-upgrade. No further announcements regarding the reopening will be made, so users are advised to stay informed through Binance's platform.

Market Context

Network upgrades and hard forks are common in the cryptocurrency space, often implemented to enhance security, scalability, or functionality. Binance's proactive support for such upgrades underscores its commitment to maintaining a robust trading environment and ensuring seamless user experiences.

For further details, users can refer to Binance's official announcement. Binance reminds users to be cautious of market risks associated with digital assets, highlighting the importance of informed investment decisions.