Binance Temporarily Suspends Polygon Network Operations
Date: 2025-07-01 Author: Gabriel Deangelo Categories: BUSINESS
Binance announced that it will suspend deposits and withdrawals on the Polygon network, starting July 1 at 07:00 UTC (10:00 Moscow time). The upgrade is necessary to improve network performance, and the exact timing of the technical work completion has not yet been announced. The crypto exchange assured that all operations will be resumed after the network confirms its stable operation.
The platform advises all users to complete planned transfers in advance and not to postpone transactions until the last minute to avoid possible failures and delays in processing. After the upgrade, all operations will be available as usual.
It is worth recalling that the modernization of the Polygon ecosystem began at the beginning of the year. Then the project team announced a hard fork and two key stages to improve the PoS chain. The purpose of these steps is to increase the reliability of the network and its throughput. The developers are working to adapt the Polygon infrastructure to the growing demands of users and the ever-changing market conditions.
Meanwhile, recent news also concerns the largest liquid staking protocol, Lido. It has stopped working with Polygon PoS, as it was unable to cope with increasing competition and market fluctuations. The closure of Lido on Polygon shows that even large protocols can face difficulties when conditions change quickly.
Binance encourages its customers to stay tuned for further notifications to stay informed about the resumption of all functions. The final decision on the resumption of transfers will be made after Polygon technical experts confirm the stable operation of the updated network.
Users can expect such updates to be an important part of Polygon’s development in the coming months. The network continues to work on new scaling solutions and improves the security of the infrastructure to remain competitive with other blockchain projects.
Amid these changes, market participants are advised to plan their transactions in advance and closely monitor technical announcements from Binance and the Polygon team. This will help avoid unnecessary delays and misunderstandings when working with assets on the Polygon network.
