Binance to Suspend Qtum (QTUM) Deposits and Withdrawals Due to Scheduled Network Upgrade and Hard Fork

The upgrade will occur at block height 4,590,000, estimated for 15:30 (GMT+8) on the same day. Trading of QTUM will remain unaffected, but users are encouraged to deposit their tokens in advance.

Binance will temporarily halt deposits and withdrawals for Qtum (QTUM) starting at 14:30 on February 15, 2025, due to a scheduled network upgrade and hard fork. The upgrade will occur at block height 4,590,000, estimated for 15:30 (GMT+8) on the same day.

However, trading of QTUM will remain unaffected, and users are advised to deposit their tokens in advance. For technical aspects and resumption of deposit and withdrawal services, the platform will handle it, and once the network stabilizes, these services will be restored. But, no further announcements will be made regarding reopening these services. In case of any discrepancies between translated versions of the announcement, the English version should be considered the most accurate, Binance added.

Earlier, the crypto exchange platform halted Cardano (ADA) deposits and withdrawals on January 29, 2025, at 20:45 UTC for a network upgrade and hard fork. The Plomin hard fork introduced a decentralized governance model, allowing ADA holders to vote on proposals or delegate votes. The upgrade took place at 21:45 UTC, with trading remaining unaffected. Binance managed all technical aspects and resumed deposits and withdrawals once the network stabilized. But, no further announcements were made, and users were advised to stay informed.

Meanwhile, Binance has also announced the listing of two new tokens, Cheems (1000CHEEMS) and Test (TST), which will be available for trading in pairs such as 1000CHEEMS/USDT, 1000CHEEMS/USDC, TST/USDT, and TST/USDC. Deposits for these tokens will begin shortly after the announcement, while withdrawals will be accessible by 19:00 (GMT+8) on February 10, 2025. Each token comes with a seed label, indicating increased volatility and risk, and users are required to complete Binance’s risk assessment every 90 days to continue trading. Binance advises users to conduct thorough research before trading, as newly listed tokens can experience significant price fluctuations.

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Give it a try. You can unsubscribe at any time.