Binance Boosts Injective Network Upgrade with Temporary INJ Suspension – What You Need to Know
Binance has announced its support for the upcoming Injective (INJ) network upgrade and hard fork, a move that underscores the exchange’s commitment to blockchain innovation. This upgrade, scheduled for July 31, 2025, includes a temporary suspension of INJ token deposits and withdrawals to ensure a seamless transition. Here’s everything you need to know about this critical development.
What is the Injective Network Upgrade?
The Injective Network upgrade involves a hard fork at block height 127,250,000, expected around 22:00 UTC+8. Key features of this upgrade include:
- EVM compatibility via Ethernia, a beta mainnet.
- Enhanced cross-chain interoperability for DeFi applications.
- Improved security and network functionality.
Why is Binance Suspending INJ Transactions?
Binance will temporarily halt INJ deposits and withdrawals starting at 13:00 UTC to facilitate the upgrade. This precautionary measure ensures:
- Smooth execution of the hard fork.
- Protection against failed transactions.
- User asset security during the transition.
How Does EVM Compatibility Benefit Injective?
The introduction of Ethernia, an EVM-compatible mainnet, is a game-changer for Injective. Benefits include:
- Seamless integration with Ethereum-based dApps.
- Attracting DeFi and smart contract developers.
- Expanding INJ token utility and adoption.
What’s Next for Injective?
This upgrade is part of Injective’s broader strategy to compete in the blockchain space. Recent developments include:
- A historic staked ETF filing.
- Focus on cross-chain capabilities.
- Positioning as a mainstream blockchain platform.
Binance’s proactive support for the Injective upgrade highlights the growing synergy between exchanges and blockchain projects. This collaboration is a testament to the maturing crypto ecosystem and its focus on innovation.
Frequently Asked Questions (FAQs)
When will INJ transactions resume on Binance?
Transactions will resume once the upgrade is complete and the network is stable. Binance will notify users via official channels.
What happens if I deposit INJ during the suspension?
Deposits made during the suspension may not be credited. Users are advised to wait until transactions resume.
How does EVM compatibility help Injective?
EVM compatibility allows Injective to support Ethereum-based applications, broadening its developer base and use cases.
Is my INJ safe during the upgrade?
Yes, your INJ tokens are safe. The suspension is a precautionary measure to ensure a smooth upgrade process.
