Bitcoin Exchange Binance Announces Support for This Altcoin's Network Upgrade and Hardfork! Here Are the Details

Binance announced that it will support the network upgrade and hard fork process on the Near Protocol ($NEAR) network.

Binance to Support Near Protocol ($NEAR) Network Upgrade and Hard Fork

According to the statement made by the company, deposits and withdrawals of tokens on the $NEAR network will be temporarily suspended on August 18, 2025, at 03:00 CEST.

The network upgrade and hard fork are scheduled to begin at 04:00 CEST on the same day. During this period, only deposits and withdrawals connected to the $NEAR network will be affected, while token trading on the network will continue uninterrupted.

Binance stated that users do not need to take any technical action; all technical requirements will be met by the exchange. Deposits and withdrawals will be reactivated once the upgrade is complete and the network is stable. The company stated that it will not be making any further announcements regarding this process.

Near Protocol is known as a blockchain network characterized by high scalability and low transaction costs. Network upgrades and hard forks are typically implemented for performance improvements, security enhancements, and the addition of new features.

Binance's move aims to preserve the user experience and minimize potential disruptions during the network transition, allowing traders to continue using the $NEAR network after the upgrade without having to deal with the technical process.

*This is not investment advice.