Binance will suspend operations with the TRX token next Thursday

Binance TRX
  • The exchange house said that it will temporarily suspend operations with TRON as of June 23.
  • Binance alleged that the temporary suspension is for maintenance purposes.
  • The exchange of tokens on TRON will remain available during the interruption of withdrawals and deposits.

This June 20, the world’s leading cryptocurrency exchange, Binance, announced the temporary suspension of operations with the TRX token. Through a statement on its website, Binance said that withdrawals and deposits with the TRON network token will be paused next Thursday.

The largest exchange house in global trading volume alleged that the suspension is due to maintenance reasons, and explained that this will take place on June 23, at 6:00 UTC. According to Binance, token trading on the TRON network will not be affected during the process, and deposits and withdrawals will be stopped five minutes before the maintenance starts.

According to Binance, this process will only take an hour, and TRX withdrawals and deposits will be available again once the maintenance ends. Also, the exchange made it clear that it will not make any more announcements in this regard.

This statement from the Binance exchange occurs in the context of the bear market for Bitcoin and other cryptocurrencies. It should be noted that the TRX token has experienced a 21% drop in the last seven days, and just over 25% in the last two weeks, as reflected by the CoinGecko portal.

In addition, last Monday, when the market was in the red and in what seemed like a free fall in prices, Binance temporarily stopped all Bitcoin (BTC) withdrawals, citing a technical problem. The founder and CEO of the company, Changpeng Zhao (CZ), reported via Twitter that such operations were supposedly paused due to a transfer that got stuck on their platform and caused a delay. On the same day, June 13, Binance resumed trading.