One of the world’s largest crypto exchange, Binance has decided to perform an upgrade of their existing system. This update process will begin on Thursday at 2:00 AM and the company expects the upgrade to take about 6-8 hours.
During this, deposits, withdrawal and trading services will remain offline, and once the maintenance is done, the services will resume again. This upgrade will bring several major improvements along in the system such as optimization of Binance matching engine, API, the addition of Order Cancels Order(OCO), which is a large improvement for the crypto traders.
Binance announced to advise “open margin positions” to ensure that their balances are equal to avoid getting liquified during the upgrade period. The firm is expanding its horizon, and recently they added margin support for USDC, Litecoin, and Ethereum Classic.