Binance will temporarily suspend bitcoin deposits and withdrawals on December 1st as it intends to conduct its usual wallet maintenance.
In a new tweet, crypto exchange Binance alerted its users to wallet maintenance for the Bitcoin network. According to information published on its website, Binance will conduct a Bitcoin Network (BTC) wallet maintenance on December 1, 2022 at 6:00 a.m. UTC, which will last for about an hour.
#Binance is conducting a wallet maintenance for the #Bitcoin Network (BTC) on December 1, 2022 at 06:00 UTC.https://t.co/SufXyRtcXt
— Binance (@binance) November 30, 2022
While bitcoin trading will not be impacted during wallet maintenance, Bitcoin (BTC) network deposits and withdrawals will be suspended starting December 1 at 5:55 UTC.
The crypto exchange says it will reopen deposits and withdrawals after maintenance is complete and may not have to notify users in another announcement.
Today, Binance announced its entry into the Japanese markets by acquiring 100% stake in Sakura Exchange BitCoin (SEBC), the Japan-registered crypto exchange service provider.
In other news, the top crypto exchange announced that it has completed the integration of USD Coin (USDC) into the Algorand network. This means that USD Coin (USDC) deposits and withdrawals are now available on the Algorand network.
Bitcoin unlocks $17,000
Despite continued investor concerns over the FTX falls, bitcoin’s price continued its rise from Monday, hitting daily highs of $17,077 at press time. The largest cryptocurrency by market cap recently traded at $16,897, its highest level in about two weeks and up almost 2.41% in the last 24 hours.
Markets will be watching closely for Wednesday’s speech by Federal Reserve Chair Jerome Powell, who will be speaking on fiscal and monetary policy at the Hutchins Center.
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