Introduction
Binance, one of the largest cryptocurrency exchanges in the world, has announced its support for the upcoming network upgrade and hard fork of the Near Protocol (NEAR). Beginning on September 23, 2025, Binance will temporarily suspend deposits and withdrawals of NEAR tokens to facilitate this process. This move demonstrates Binance’s commitment to ensuring a seamless user experience and maintaining the integrity of its trading environment.
Key Details of the Network Upgrade
- Suspension of Services: Starting from September 23, 2025, at 00:00 UTC, all deposits and withdrawals on the NEAR Protocol will be paused.
- Upgrade Timing: The actual hard fork is expected to start at approximately 01:00 UTC on the same day.
- Trading Impact: Users will still be able to trade NEAR pairs without disruption, and all technical aspects regarding the upgrade will be managed by Binance.
Importance of the Upgrade
The network upgrade and hard fork are crucial for the Near Protocol, which aims to enhance performance, scalability, and security. Understanding the implications of these upgrades can aid investors in making informed decisions. Here are several anticipated benefits of the upgrade:
- Enhanced Scalability: The upgrade will likely improve transaction throughput, allowing the platform to handle a higher volume of transactions effectively.
- Security Enhancements: Updates often include improvements to the security protocols, making the network less vulnerable to attacks.
- New Features: Hard forks typically introduce new functionalities that can improve user experience and broaden the use cases of the protocol.
Trading NEAR on Binance
Investors interested in trading NEAR can do so without any disruptions during the upgrade period. Binance offers various trading pairs for NEAR, including NEAR/USDC, which recently saw a significant price increase.
Current Market Overview
| Pair | Price | Change (%) |
|————|———|————-|
| NEAR/USDC | 3.22 | +11.9750% |
| BTC/USDT | 117,003.85 | -0.5708% |
| ETH/USDT | 4,569.33 | -1.2452% |
User Guidance
Binance emphasizes that users should remain aware of their investment decisions and market conditions, especially during major upgrades. Here are key recommendations for investors:
- Stay Informed: Regularly check for updates related to the NEAR upgrade and overall market status.
- Diversify Investments: Consider diversifying your investment to mitigate risks associated with temporary network suspensions.
- Consult Financial Advisors: If unsure about the implications of the upgrade, consult financial professionals for tailored advice.
Conclusion
The upcoming NEAR Protocol upgrade set for September 23, 2025, represents an important development in the NEAR ecosystem. Binance’s proactive measures in supporting this upgrade highlight its role as a market leader committed to enhancing user experience. Investors should remain informed and assess their investments accordingly as the upgrade date approaches.
Sources
All information is provided for informational purposes only and should not be considered financial advice. Investors should conduct their own research before making investment decisions.