Binance to Support IoTeX Network Upgrade
Cryptocurrency exchange Binance has announced its intention to support an upcoming upgrade and hard fork on the IoTeX (IOTX) network. To ensure a smooth experience for users during this process, Binance will temporarily suspend deposits and withdrawals related to the IoTeX network.
Suspension of Services
In a statement, Binance indicated that the temporary suspension of deposit and withdrawal operations for IoTeX tokens will begin on October 19, 2026, at approximately 01:00 UTC. The actual upgrade and hard fork are scheduled to occur on the same day at around 02:00 UTC.
Details of the Upgrade
The upgrade will take place at block height 53,533,081 on the IoTeX blockchain. Binance clarified that the specified times are estimates, and the timing may vary depending on network performance.
Trading Remains Unaffected
During the upgrade, trading of IoTeX tokens on Binance will not be interrupted. Users will still be able to trade relevant cryptocurrencies while deposit and withdrawal services are temporarily out of commission.
Technical Management by Binance
Binance will oversee all necessary technical operations related to the upgrade, meaning users won’t need to take any additional steps to participate in the network changes. After the upgrade has been completed, Binance will confirm the stability of the IoTeX network before re-initiating deposit and withdrawal services.
The Importance of Upgrades
Upgrades and hard forks on blockchain networks allow for important changes to the network protocol and enhance technical capabilities. These developments can lead to improvements in performance, security, and user experience.
Once the IoTeX upgrade is deemed stable, Binance will restore full functionality for deposits and withdrawals.
This is not investment advice.
