Binance, the largest cryptocurrency exchange in the world in terms of daily trading volume, today declared that it would support the Cosmos (ATOM) network upgrade.
#Binance will support the @cosmos $ATOM network upgrade.https://t.co/xy9vlreE01
— Binance (@binance) December 13, 2021
According to the official blogpost,
“The Cosmos (ATOM) network upgrade will take place at Cosmos block height of 8,695,000 or approximately at 2021-12-14 06:00 (UTC). Deposits and withdrawals of ATOM will be suspended approximately starting from 2021-12-14 05:00 (UTC).”
The exchange further noted that the trading of ATOM would not be affected during the upgrade. Those users who are holding ATOM in their Binance accounts should not have to worry during the upgrade as all technical requirements involved will be handled by the exchange.
The exchange also notified its users that no new tokens would be created during this upgrade. Additionally, the exchange said that it would reopen deposits and withdrawals for ATOM once Binance is sure that the upgraded Atom network is stable.