Binance, the cryptocurrency exchange with the highest trading volume globally, has made a significant announcement that has drawn the interest of Shiba Inu (SHIB), Cardano (ADA) and XRP investors. The upcoming system upgrade of the exchange has the capacity to impact individuals holding these digital assets.
Scheduled System Upgrade and Service Disruptions on September 20th
Binance has unveiled its blueprint for a meticulously scheduled system upgrade, slated to span approximately three hours on September 20th, running from 6:00 a.m. to 9:00 a.m. (UTC). This is aimed at improving performance and stability for select “Earn” features.
During this maintenance period, specific services will be temporarily halted. These include Liquid Swap, affecting swap trading on Swap Farming, liquidity adjustments on Liquidity Farming, and the redemption of liquidity pool rewards from Liquidity Farming.
As a direct consequence of the upgrade, users may encounter intermittent disruptions linked to subscriptions and redemptions for various products such as DeFi Staking, Simple Earn, BNB Vault, Auto-Invest, Dual Investment, and ETH Staking. Additionally, the functionality for wrapping and unwrapping ETH Staking may also experience some impact.
Binance advises users that scheduled cryptocurrency purchases via existing Auto-Invest plans may encounter delays while the system upgrade unfolds. The duration of the upgrade might fluctuate, and all affected services will be reinstated once the process concludes. However, it’s important to note that Binance does not plan to issue additional announcements concerning the resumption of services.
Implications for SHIB, ADA and XRP Holders
It’s worth highlighting that Binance integrated both Ripple XRP and Shiba Inu (SHIB) into its Auto-Invest platform earlier this year, in May. The Auto-Invest platform boasts support for a diverse array of assets and portfolio strategies, encompassing over 200 cryptocurrencies. Notable among these supported tokens are Ripple (XRP), Shiba Inu (SHIB), Cardano (ADA), Bitcoin (BTC), and many more.
Given Shiba Inu’s inclusion in Binance’s liquid swap services, this announcement bears significant relevance for SHIB holders as well.
As Binance gears up for its meticulously planned system upgrade, it’s imperative for Shiba Inu (SHIB), Cardano (ADA) and Ripple (XRP) holders to heed the potential implications for their investments. With certain services temporarily suspended and intermittent disruptions anticipated across various products, staying informed and preparing for potential delays or interruptions is paramount.
Binance’s Auto-Invest platform, accommodating both SHIB and XRP, has garnered a fervent following among crypto enthusiasts, amplifying the importance of this announcement to its user base.