Binance suspends MTL transfers for July 8 upgrade

• Binance will suspend Metal (CRYPTO:MTL) deposits and withdrawals from 3:00 p.m. UTC on July 8 for a network upgrade and hard fork.
• Trading of MTL on the exchange will continue during the temporary suspension.
• Binance said services will resume once the upgraded Metal network is confirmed to be stable.

Binance announced it will temporarily suspend deposits and withdrawals for Metal (CRYPTO:MTL) from 3:00 p.m. UTC on July 8 to support a scheduled network upgrade and hard fork.

The exchange said the suspension is required to allow the blockchain upgrade to proceed safely and added that MTL trading on Binance will remain available throughout the maintenance period.

Binance said deposit and withdrawal services will resume after the upgraded network is operating normally, although it did not provide a specific time for the restoration.

Users who need to transfer MTL to external wallets or other exchanges must complete those transactions before the suspension begins, while any MTL held on Binance will remain accessible for trading.

Following the announcement, Binance did not indicate any changes to MTL spot trading, and the exchange did not disclose how long the deposit and withdrawal pause is expected to last.

Network upgrades and hard forks are common across blockchain networks and often introduce protocol improvements, security updates or new features that require exchanges to coordinate with node operators and wallet providers.

Cryptocurrency exchanges routinely pause deposits and withdrawals during blockchain upgrades to reduce the risk of transaction issues and typically restore services after confirming the upgraded network is stable.