Binance announced the Elrond Network Upgrade (EGLD) would take place around 2022-05-30 at 15:00 (UTC). Elrond deposits and withdrawals will be suspended starting 2022-05-30 at 14:00 (UTC).
Elrond Network is an ecosystem that has grown very enormously in recent times. The proof given is that the system has launched the most extensive DeFi liquidity stimulus package worth $1.29 billion to date.
Recently Elrond has been working on integrating two new planets (token); the maximum transfer value increased from $100k to $200k, and the minimum transfer value decreased from $2500 to $100.
Besides, Utrust Token is deployed on Elrond as a native ESDT to kickstart the Web3 payments revolution.
To ensure a better user experience, Binance will support network upgrades for this ecosystem.
During the upgrade, EGLD’s trading will not be affected. Elrond Network Upgrade will take place around 2022-05-30 at 15:00 (UTC)
Details of Binance’s upgrade announcement can be found here.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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