Binance recently announced support for the upcoming Komodo Network upgrade and hard fork. The development will take place once the network surpasses a block height of 2,588,672. Komodo will stop the deposits and withdrawal features from 27th September at 11:30 UTC.
With the latest announcement, traders are expecting a surge in Binance’s market cap. That is why many are looking for a Binance review to understand its functionalities in depth.
Binance released a list of important points to help users comprehend the operation. The notice states that the upgrade will not affect KMD’s trading. However, traders cannot deposit the funds for KMD from 27th September. The timeline may deviate depending on how things proceed.
The notice also confirms that the hard fork will not yield any new KMD tokens. Binance is overviewing the technical aspects for every KMD holding user on the Binance network. The deposit and withdrawal features will be reopened once the network has stabilized it. Binance stated that users would get a notification on further announcements.
Binance also released two new liquidity pools besides providing support for the KMD upgrade,. The network extended its support for ICP to release the ICP/BNB and ICP/USDT liquidity pools.
The news came shortly after Binance completed its Fetch.ai mainnet integration. The development reopened deposits for the mainnet Fetch.ai tokens. Binance also supported the deposits and withdrawals of BEP-20 and ERC-20 tokens during the release. After the integration, Binance set FET as the default network for FET tokens’ deposits and withdrawals.
Binance is extending its reach across the sector with quick collaborations and support. If this pace continues, the network will quickly surge in market stature and popularity.