Update on Ethereum (ETH) Network Upgrade & Hard Fork

The Ethereum network will undergo an Arrow Glacier hard fork upgrade at a block height of 13,773,000 (expected at 04: 00 , December 10, 2021, Eastern Eighth District time).

In order to reduce transaction risks caused by market fluctuations during the hard fork and ensure the security of Binance users’ assets, Binance will make the following arrangements:

1. Deposits & Withdrawals on the ETH network

According to previous announcements, Binance will suspend the deposit and withdrawal of ETH and other ERC-20 network tokens at around 03:55 on December 10, 2021, Eastern Eighth District time. Please recharge and withdraw in time, and Binance will handle any technical issues in the hard fork for users.

2. ETH and Other ERC-20 Tokens Spot & Margin Trading

Spot trading
Spot trading of ETH and other ERC-20 network tokens will not be affected, but the hard fork may be accompanied by relatively severe price fluctuations, please evaluate the risks before trading.
Leveraged trading
Binance will suspend ETH lending services from 16:00 on December 8, 2021, Eastern 8th district time to 07:59 on December 10, 2021. Leveraged trading (whole position, partial position) will not be affected. Please note that there may be a risk of liquidation in extreme cases, please carefully evaluate and participate in the transaction.

3. ETH Futures Trading

ETH U standard contract and ETH currency standard contract transactions will not be affected. Please note that if extreme market conditions or price source deviations occur in the market, Binance will take additional protective measures, including but not limited to:

  • Adjusting leverage and margin includes the highest leverage multiple at each level, position limit and maintenance margin ratio;
  • Adjusted fund rate includes base interest rate, premium index, and rate cap;
  • Change the price index component;
  • Use the “Latest Transaction Price Protection Mechanism” to update the marked price. Please refer to the price index for details.

4. Regarding leveraged tokens ETHUP and ETHDOWN

The trading of ETHUP/USDT and ETHDOWN/USDT trading pairs will not be affected. Please note that if extreme market conditions occur, the subscription and redemption functions may be closed.

5. About ETHUSDT Option Trading (App)

Trading of ETHUSDT options on the Binance App will not be affected.

6. About the flash exchange trading platform

ETH transactions on the flash exchange trading platform will not be affected.

Binance will suspend ETH’s OTC (over-the-counter) lending service from 16:00 on December 8, 2021 to 07:59 on December 10, 2021.

7. About loaned currency

Binance will suspend ETH borrowing from 16:00 on December 08, 2021 to 07:59 on December 10, 2021 Eastern Eighth District time.

The Ethereum hard fork will take place at a block height of 13,773,000 on the Ethereum main network. The estimated time is for the user’s reference only and may change according to the processing speed of the block.

Go to Binance Official Website