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U.Today - Top crypto exchange brings to the attention of Ethereum network users an important development that might impact deposits and withdrawals on a specific date: the crypto exchange will be performing its routine wallet maintenance.

In an official , Binance says it will perform wallet maintenance for the Ethereum network (ERC20) on Oct. 24 at 7:00 a.m. (UTC). The maintenance will take about two hours.

In light of this, Binance says deposits and withdrawals on the Ethereum network (ERC20) will be suspended on Oct. 24 starting at 6:55 a.m. (UTC). Meanwhile, the trading of digital assets and currencies on the Ethereum network (ERC20) will not be impacted during wallet maintenance.

, on Oct. 18, Binance performed its wallet maintenance on the Tron network. In an announcement about the development, Binance urged users not to panic as they might notice large transactions from its TRX hot wallet as a result.

Ethereum's "billionaire" wallets are also picking up steam, holding nearly a third of the supply for the first time in seven years.

For the first time since July 16, whale addresses with over one million ETH possess 32.3% of the supply, according to, indicating increased accumulation.

On Oct. 16, ETH transactions that exceeded $1 million had their second highest day in a month.

At the time of writing, ETH was up 4.37% in the last 24 hours to $1,615.

This article was originally published on U.Today

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Ethereum (ETH) Withdrawals to Be Temporarily Suspended by ... - Investing.com