Binance Suspends Ethereum and Major L2 Network Deposits & Withdrawals Ahead of ETH Hard Fork

May 7, 2025, 10:19 a.m. 3 sources neutral
METIS
MTL MTL $0.28 +2.41%
CELO CELO $0.08406 +0.70%
ARB ARB $0.11 -2.93%
BASE
STRK STRK $0.04854 -2.05%
SCR
CYBER
WLD WLD $0.39 +0.77%
ETH ETH $2117.13 +2.26%
OP OP $0.19 -0.26%
ZKSYNC
MANTA
POL POL $0.09575 +0.10%

Binance has announced temporary suspension of deposits and withdrawals for Ethereum (ETH) and several key associated networks to support an upcoming Ethereum network upgrade and hard fork.

The suspension will begin at 12:45 PM ET, before the scheduled upgrade at 1:05 PM ET. Affected networks include Ethereum (ETH), Arbitrum (ARB), Optimism (OP), zkSync Era (ZKSYNC), Base (BASE), Manta Network (MANTA), Starknet (STRK), Polygon (POL), Metis (METIS), Scroll (SCR), Cyber (CYBER), Metal DAO (MTL), Celo (CELO), and Worldcoin (WLD). Binance clarified that spot trading will remain fully operational during the upgrade, and only deposit and withdrawal functions are paused.

Once the networks are confirmed stable and secure post-upgrade, full deposit and withdrawal functionality will be restored. The move is part of Ethereum's planned development efforts to enhance scalability and network efficiency, with Binance handling all technical aspects for its users during this period.

METIS
Temporary exchange actions unlikely to trigger significant price movement; market sentiment remains stable pending upgrade completion.
MTL MTL $0.28 +2.41%
Temporary withdrawal and deposit pause may have slight impact on transfers, but price effect is expected to be neutral overall.
CELO CELO $0.08406 +0.70%
Only short-lived transfer interruption; trading stability maintained. Network upgrade’s success may mildly benefit sentiment after restoration.
ARB ARB $0.11 -2.93%
Brief suspension may mildly unsettle users, but no lasting impact expected; upgrade may benefit network. Overall, neutral price effect.
BASE
Exchange transfer halt is temporary; trading continues. Price impact is neutral, with potential positive sentiment after successful network upgrade.
STRK STRK $0.04854 -2.05%
Minimal price volatility expected from temporary transfer pause; normal activity resumes post-upgrade. Long-term price dynamic tied to ETH upgrade success.
SCR
Minor and brief transfer restrictions; price stability expected as spot trading is unaffected. Long-term neutral effect.
CYBER
Market should experience no significant movement; deposit/withdrawal suspensions are routine for upgrades. Neutral both short- and long-term.
WLD WLD $0.39 +0.77%
Short-term operational constraint does not affect price as trading continues; overall neutral outlook with slight positive bias post-upgrade.
ETH ETH $2117.13 +2.26%
Temporary deposit/withdrawal suspension may cause short-term liquidity fluctuations, but trading is unaffected; long-term sentiment remains neutral to positive after upgrade.
OP OP $0.19 -0.26%
Minor short-term transfer disruption; no trading impact. Long-term, aligned with Ethereum improvements; neutral price expectation.
ZKSYNC
Suspension may momentarily affect transfers, but no trading pause means minimal price consequences. Long-term effect depends on Ethereum upgrade outcome.
MANTA
Short-term deposit/withdrawal block; users may experience minor inconvenience but price is likely unaffected. No substantial long-term impact.
POL POL $0.09575 +0.10%
Short-lived withdrawal/deposit suspension poses negligible risk; upgrade support offers operational confidence. Neutral to positive long-term outlook.
Sources
Binance Halts Ethereum and Altcoin Transactions for Crucial Network Update
COINTURK NEWS 07.05.2025 06:31
Urgent: Binance Suspend Deposits on Multiple Networks for Ethereum Upgrade May 7
bitcoinworld.co.in 07.05.2025 07:30
Bitcoin Exchange Binance Temporarily Suspends Deposits and Withdrawals on These Networks! Here's Why
Bitcoin Sistemi 07.05.2025 09:43
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