Binance.US, the American subsidiary of the world’s largest cryptocurrency exchange, has announced that it will offer support for the all-important Vasil upgrade and hard fork of the Cardano network.
Binance.US Support for Vasil Hard Fork
With the long-awaited Vasil hard fork finally hours away, Binance.US has announced that it will support the upgrade of Cardano (ADA), which is scheduled to happen on Thursday, September 22nd.
As per the announcement, Binance.US will temporarily suspend ADA deposits and withdrawals on September 22nd, 2022, at approximately 8:45 UTC. During this time, the trading of will remain unaffected.
At a similar time as Binance.US making the announcement, Input Output Global (IOG), the developers behind Cardano, revealed that exchanges representing 73% of ADA’s liquidity are now ready for the Vasil upgrade.
Will Coinbase (NASDAQ:COIN) Support the Vasil Upgrade?
Joining Binance.US in preparing for the highly anticipated upgrade are top exchanges such as KUcoin, Crypto.Com, HitBTC, Gate.io, and Kraken, among others. On the other hand, America’s premier crypto exchange, Coinbase, has yet to announce support for the upgrade.
Although Coinbase has not officially declared support for the Vasil hard fork, reports suggest that the exchange is in the process of upgrading its nodes in preparation.
The 24 hour price chart for Cardano (ADA). Source: CoinMarketCap
On the Flipside
- Despite rallying to reach $0.4508 today, experts suggest that the price of Cardano (ADA) could take another hit before the Vasil upgrade goes through.
Why You Should Care
Vasil is an important upgrade for the Cardano ecosystem, promising enhancements to smart contract programming, greater scalability, and reduced costs.
Read about the fears of a Cardano crash in:
Cardano (ADA) Could Fall To New 20-Month Low As Crypto Crash Worsens
How decentralized is Cardano?:
Cardano (ADA) Founder Charles Hoskinson Says He Cannot Change ADA’s Supply Or Force The Vasil Hard Fork