- Binance is to suspend BNB Smart Chain deposits and withdrawals on April 17 for wallet maintenance.
- Trading of BNB tokens remains active as wallet services pause temporarily for network updates.
- BNB Smart Chain holds $5.14B in TVL and supports over 1,500 dApps despite the planned disruption.
Binance exchange will suspend deposits and withdrawals for the BNB Smart Chain starting April 17 at 05:55 UTC. The interruption is due to scheduled wallet maintenance, which is expected to begin at 06:00 UTC.
The exchange stated that BNB tokens trading will not be altered during the maintenance. The downtime applies only to BNB Smart Chain transactions involving deposits and withdrawals. Binance also noted that the one-hour estimate for completion is not guaranteed, and full services will only resume once network stability is confirmed.
Wallet Maintenance Will Temporarily Disrupt Network Access
The suspension will affect all BNB Smart Chain (BSC) token transactions involving Binance wallets. The platform advised users to complete pending transactions ahead of the April 17 cut-off time. The temporary hold is part of a routine maintenance procedure meant to upgrade or secure the exchange’s integration with the BNB Smart Chain.
The BNB Smart Chain operates using the BEP-20 token standard, which is modeled on Ethereum’s ERC-20 but tailored for Binance’s ecosystem. This standard governs the deployment of smart contracts and decentralized applications on the chain. As such, the pause could impact a wide range of users, including DeFi protocol participants and developers who rely on uninterrupted access for contract execution.
Binance has not disclosed the technical details of the maintenance, but emphasized that all wallet related functions would be resumed only when the internal checks indicate that the chain is stable and fully functional. If any problems occur, this process could go on for more than one hour.
Binance has in the past scheduled wallet maintenance on various blockchain networks it supports to allow for system upgrades and security enhancements efficiently. These measures are generally preemptive and are intended to minimize potential disruptions or vulnerabilities.
BNB Smart Chain Activity Remains High Despite Scheduled Disruption
Data from DeFi Llama shows that the BNB Smart Chain currently has $5.14 billion in total value locked across decentralized applications. The network also supports over 1.25 million active addresses, making it one of the busiest blockchains in the ecosystem. In the past 24 hours, the network recorded $667 million in DEX trading volume and collected more than $613,000 in transaction fees.
The BNB Smart Chain, launched in September 2020, is home to more than 1,500 decentralized applications, with the majority focused on decentralized finance. In addition to DeFi, over 1,000 other projects spanning various sectors operate on the chain. The blockchain’s scalability and low-cost transactions have contributed to its widespread adoption among retail and institutional users.
BNB Smart Chain’s infrastructure supports a wide variety of use cases, including token swaps, staking, NFT platforms, and liquidity protocols. This broad utility means that even a brief suspension can have ripple effects across multiple services, although trading on Binance itself remains operational.
