Binance Suspends CHZ and EGLD Transactions Temporarily for Network Upgrades and Hard Forks

Binance Suspends CHZ and EGLD Transactions Temporarily for Network Upgrades and Hard Forks

## Binance Suspends CHZ and EGLD Transactions Binance, the leading cryptocurrency exchange, has announced the suspension of deposits and withdrawals for Chiliz (CHZ) and MultiversX (EGLD) due to upcoming network upgrades and hard forks. ### Chiliz (CHZ) Suspension CHZ deposits and withdrawals will be halted from May 20th, 2023, at 3 PM (UTC). This suspension is necessary to facilitate the Chiliz network upgrade, which aims to enhance the blockchain's performance and capabilities. ### MultiversX (EGLD) Suspension EGLD deposits and withdrawals will be suspended from May 22nd, 2023, at 12:20 AM (UTC). This suspension will allow Binance to support the MultiversX hard fork, which introduces significant changes to the network's protocol and consensus mechanism. Binance emphasizes that the suspensions are temporary and will be lifted once the upgrades and hard forks are complete. The exchange will closely monitor the network developments and provide updates to users accordingly. Traders and investors who hold CHZ or EGLD on Binance are advised to plan their transactions accordingly. The suspensions may impact liquidity and trading volumes during the specified periods. Binance remains committed to supporting network upgrades and hard forks that contribute to the growth and stability of the cryptocurrency ecosystem.