Binance to Face Temporary Downtime on Ethereum Network

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News The industry’s biggest cryptocurrency exchange, Binance, has announced its plans to conduct maintenance on the Ethereum network. As an early precaution, the exchange said it may record a temporary outage, but it reassured its users that funds lodged with it are safe. Advertisement Binance to face outage Per the general announcement, the scheduled maintenance will take place on Feb. 24 and will start at 6:00 a.m. UTC. Notably, related maintenance activities are not uncommon, and Binance said the estimated downtime on this network is one hour. To further prepare its users, the exchange confirmed that it will pause deposits and withdrawals at least five minutes before the time. We're performing a brief wallet maintenance on the Ethereum Network tomorrow, Feb 24th. 🔸 Starts: 06:00 UTC 🔸 Estimated Down-time: 1 hour 🔸 Note: Deposits/withdrawals will be paused 5 mins prior to the start. Funds are SAFU! 🙏 👉 https://t.co/0Gc6vnytL3?from=article-links pic.twitter.com/vMFdJndl1u — Binance (@binance) February 23, 2026 Considering how volatile the market is and the negative commentary around Binance and its operations, the exchange had to be up front about its updates. To further clarify, Binance said the trading of tokens on the Ethereum network will not be impacted. After maintenance is completed, the crypto exchange said it will reopen withdrawals when it deems the network is stable enough. Binance plays a crucial role in the broader crypto industry, and it supports related upgrades and maintenance of the assets listed on its platform, as well as new protocol integrations . You Might Also Like Sun, 02/15/2026 - 16:12 Grayscale's Silbert Shares Rare Agreement With Binance CEO on 'Missing Link in Crypto' By Gamza Khanzadaev Good time for Ethereum upgrade? As many analysts have pointed out, Binance is a favorite liquidity hub for investors. Its popularity has made it the biggest market for top assets like Bitcoin and Ethereum, covering both spot and derivatives markets. The timing for the Ethereum maintenance has drawn concerns from the market amid sustained price crashes. At the time of writing, the Ethereum price is down by 2.72% in 24 hours to $65,828. Ethereum joined the list of assets that led crypto fund outflows over the past week, as XRP and Solana maintained mild inflows. With the general sentiment currently bearish, Binance’s maintenance can be considered as preparation for a possible market rebound. #Binance #Ethereum