Bitcoin Exchange Binance Announces It Will Support This Altcoin’s Network Upgrade and Hard Fork Update!

Binance, one of the world’s largest cryptocurrency exchanges, has announced its support for the planned network upgrade and hard fork on the Ontology ($ONT) network. According to the exchange’s statement, deposit and withdrawal operations on the $ONT network will be temporarily suspended to ensure users can continue their transactions securely.

Binance announced that it will suspend token deposits and withdrawals on the Ontology network as of 02:00 AM on August 22, 2026. The network upgrade and hard fork are expected to take place around 03:00 AM on August 22, 2026, at block height 20,800,000.

The company stated that the upgrade process will be supported to protect the user experience and ensure that technical processes are completed smoothly. Binance also emphasized that all necessary technical processes during the network upgrade will be managed by their own teams and users do not need to take any additional action.

On the other hand, it was stated that although deposit and withdrawal transactions on the network will be temporarily suspended, trading of $ONT and related tokens will not be affected. Users will be able to continue trading normally on Binance spot and other trading platforms during the upgrade process.

Binance announced it will reopen deposit and withdrawal services once the Ontology network is confirmed to be stable following the completion of the network upgrade. The exchange also stated that no further announcements will be released regarding this process.

In the cryptocurrency ecosystem, network upgrades and hard forks are considered crucial for security, performance, and the rollout of new features. The Ontology community is closely following this update, expecting it to strengthen the network’s technical infrastructure and contribute to its long-term development.

*This is not investment advice.