Binance announces support for the Osmosis network upgrade
Deposit and withdrawal of funds will be suspended on January 23 at 15:00 UTC
23.01.2023 - 14:55
233
2 min
0
What’s new? Cryptocurrency exchange Binance has announced that it will support the Osmosis network upgrade on January 23 at approximately 16:00 UTC. Deposits and withdrawals of OSMO tokens on the platform will be suspended at 15:00 UTC. Representatives of Binance announced this on the official blog.
Announcement on the Binance blog
What else is known? The Osmosis network upgrade will take place at the block height of 7 937 500. In this, the trading of OSMO tokens will not be affected. Deposits and withdrawals will resume as soon as Binance is convinced that the upgraded network is stable.
What is Osmosis? It is a blockchain with the native token OSMO built in the Cosmos ecosystem. The network also operates a decentralized crypto exchange (DEX). On June 8, the Osmosis network was suspended by developers and validators after a liquidity pool exploit. One of the users deposited funds into the pool and then immediately withdrew them, however, because of the bug, the sum of assets increased by 50%. The developers reported that the vulnerability was detected and fixed
On October 28, 2022, Binance listed OSMO in the Innovation Zone and opened spot trading of the asset in pairs with bitcoin as well as Binance USD (BUSD) and Tether (USDT) stablecoins. After the listing on the platform, the OSMO rate increased by 24%.
As of January 23, 14:40 UTC, OSMO is trading at $0,969, having gained 3,85% in 24 hours. The asset ranks 84th in the ranking of cryptocurrencies by market capitalization with a figure of $505,8 million.
Useful material?
Telegram 
Twitter Technologies
The new mechanism has already made it possible to calculate over tens of millions of fraudulent addresses
May 16, 2024
Incidents
The amount of damage amounted to $25 million in cryptocurrencies
May 16, 2024
Market
FTX customers will be compensated in cash, unlike Mt. Gox and Gemini customers who will receive cryptocurrencies
May 16, 2024
Technologies
It is available to crypto wallet users worldwide as an additional feature
May 15, 2024
Market
The ex-official known for his initiatives to explore the potential of blockchain in the financial system has joined the board of directors of a fintech company
May 14, 2024
Business
Earlier, Brad Garlinghouse claimed apparent harassment of the company by the US authorities
May 14, 2024
Cryptocurrency rates
-
Bitcoin
$65 620
BTC
-0.3%
-
Ethereum
$2 944.25
ETH
-2.29%
-
BNB Smart Chain
$570.67
BSC
-2.18%
-
Ripple
$0.516143
XRP
-0.49%
-
Dogecoin
$0.150079
DOGE
-3.86%
-
Cardano
$0.46436
ADA
+0.86%
-
Polkadot
$7.07
DOT
+1.31%
-
Bitcoin Cash
$446.15
BCH
-2.61%
-
Litecoin
$82.03
LTC
-0.55%
-
Stellar XLM
$0.106589
XLM
-0.7%