Ethereum
Binance Announces Temporary Freeze on Ethereum Withdrawals, Here’s When — TradingView News
Leading cryptocurrency exchange Binance has announced an upcoming temporary pause on deposits and withdrawals on the Ethereum network. This outage is scheduled for May 29, as the exchange undertakes routine portfolio maintenance.
The maintenance window is expected to last approximately two hours, starting at 7:00 a.m. (UTC) on May 29. During this period, users will not be able to deposit or withdraw Ethereum or any ERC-20 tokens associated with the network. It is important to note that the exchange of these tokens will not be affected and will continue as usual during maintenance.
As noted in an official blog post, Binance will perform wallet maintenance for the Ethereum network. ETHUSD on May 29 at 7:00 a.m. (UTC). To support wallet maintenance, deposits and withdrawals on the Ethereum network 
#Binance will be performing wallet maintenance for the Ethereum $ETH network starting May 29 at 07:00 UTC.
The maintenance will take approximately 2 hours.
Deposits and withdrawals will reopen once maintenance is complete.https://t.co/uXfLxKuauC— Binance (@binance) May 28, 2024
Binance added that token deposits and withdrawals on the Ethereum network will be reopened once the network is deemed stable. However, no further announcements can be made.
In light of this announcement, users should ensure that all deposits and withdrawals are completed before maintenance begins to avoid any potential disruption. Additionally, the exchange has reassured its users that assets will remain secure throughout the process.
The timing of wallet maintenance is important amid a meteoric rise in the amount of ETH flowing to exchanges.
According to on-chain analytics firm IntoTheBlock, the amount of Ethereum entering exchanges reached its highest level since January. With a net flow of 140,660 ETH on Saturday, Ethereum recorded its highest net deposits on exchanges in over four months.
Last week, the SEC approved listing applications for Ethereum ETFs, a historic milestone for the crypto industry.