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Binance, the world’s largest cryptocurrency exchange, has announced its support for two leading altcoins. According to the announcement, Binance will support the planned network upgrades and hard forks of AirDAO (AMB) and BitShares (BTS). Here’s what you need to know about the process.
AirDAO (AMB) and BitShares (BTS) Receive Full Support from Binance
In a recent announcement, Binance revealed that AirDAO will undergo a network upgrade at block height 27,690,000, expected to take place in the early hours of November 16th at 00:00 (UTC). Deposits and withdrawals for the tokens on the network will be suspended starting from 23:00 (UTC).
Additionally, Binance will support the network upgrade and hard fork of BitShares, scheduled to occur on November 16th at 17:00 (UTC). Deposits and withdrawals for BitShares tokens will be suspended starting from 16:00 (UTC) on the same day.
Key Information about the Upgrades and Hard Fork Support
Binance’s announcement regarding the hard fork and upgrade support for AirDAO and BitShares ensures that trading activities for AMB and BTS will remain unaffected. The cryptocurrency exchange will meet all the necessary technical requirements for its users.
Once the upgraded networks are confirmed to be functioning smoothly, the temporarily suspended deposits and withdrawals for both networks will be resumed.
According to data provided by the cryptocurrency data and price platform CoinMarketCap, AMB is currently trading at $0.009047 with a 0.34% increase in the past 24 hours. BTS, on the other hand, has experienced a 1.52% increase, trading at $0.01091 during the same time period. Both altcoins have not shown the expected upward momentum during a period of significant gains for altcoins. Nevertheless, Binance’s support announcement has led to a more than 50% increase in trading volume for both altcoins in the past 24 hours. An increase in trading volume is generally considered a leading indicator of price growth.