- Binance will temporarily pause all deposits and withdrawals on the BNB Smart Chain on April 17, 2025, at 09:00 GMT for wallet maintenance.
- The BNB Smart Chain has significantly grown since its launch in 2020, with over 1,500 decentralized apps and a total value locked of $5.14 billion.
Binance is set to temporarily stop deposits and withdrawals on the BNB Smart Chain due to wallet maintenance. Binance has announced that it will carry out wallet maintenance on the BNB Smart Chain (BEP20) network from the 17th of April, 2025, at 09:00 GMT.
The process is expected to take about one hour or longer. During this time, users will not be able to send or receive funds through the BNB Smart Chain. However, users can still buy and sell coins on the same network without any problems.
Binance has also explained that sending and receiving funds on the BNB Smart Chain will start again only when the system is fully steady. The platform will take care of all steps needed and will restart deposits and withdrawals once everything is working well.
This kind of maintenance is usually done during periods of low user activity. It also stated that once the network is fully stable, deposit and withdrawal functions will automatically resume, and there will be no additional notification issued.
The Growth and Adoption of Binance BNB Smart Chain Over Time
BNB Smart Chain has seen rapid expansion since its launch, attracting users and developers from everywhere around the world. Its low fees, fast transaction speeds, and support for smart contracts have made it a popular choice for building blockchain applications.
The BNB Smart Chain makes use of the BEP-20 format to create and manage tokens. This format works efficiently just like Ethereum’s ERC-20 version, allowing cross-chain use.
It was first introduced in September 2020 and was once known as Binance Smart Chain. Based on DeFi Llama reports, it holds about $5.14 billion in total locked value and serves almost 1.25 million users. Over 1,500 apps run on the chain, most especially those in the area of decentralized finance.
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