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- Binance will fully support the Ethereum “Prague” hard fork upgrade scheduled for May 7 at 10:05 UTC.
- The platform paused deposits and withdrawals for ETH and 13 compatible networks starting at 09:45 UTC to ensure a smooth upgrade.
- The Prague hard fork introduces major EIPs focused on scalability, validator efficiency, and inter-layer communication.
Binance, the world’s leading cryptocurrency exchange, has officially confirmed its support for the upcoming Ethereum (ETH) network upgrade and hard fork scheduled for today. Binance will temporarily suspend deposits and withdrawals for multiple Ethereum-compatible networks at 10:05 UTC, as the highly anticipated ‘Prague’ hard fork goes live, to ensure a smooth transition.
To facilitate the Ethereum upgrade, Binance began suspending deposits and withdrawals across several major networks at approximately 09:45 UTC. This suspension started just 15 minutes ahead of the scheduled fork. The impacted networks include Ethereum (ETH), Arbitrum (ARB), Optimism (OP), zkSync Era (ZKSYNC), Base (BASE), Manta Network (MANTA), Starknet (STRK), Polygon (POL), Metis (METIS), Scroll (SCR), Cyber (CYBER), Metal DAO (MTL), Celo (CELO), and Worldcoin (WLD).
Binance assured users that trading activities would remain fully operational. The exchange will handle all technical changes required for the upgrade internally. According to the official announcement, deposits and withdrawals will resume once the networks are deemed stable without the need for an additional update.
Binance Continues Track Record of Upgrade Support
This move follows Binance’s recent pattern of proactive network management during major blockchain events. Earlier this month, the exchange temporarily paused token transfers for IOTA (IOTA) on May 5 and for THORChain (RUNE) on May 1, both in response to those networks’ upgrades and hard forks.
Binance consistently ensures user protection and network stability during these events. This reinforces its role as a reliable trading platform amid blockchain infrastructure changes.
The Prague hard fork represents a major milestone in Ethereum’s roadmap. Scheduled for block timestamp Wed, May 7 at 10:05:11 UTC, this upgrade introduces several Ethereum Improvement Proposals (EIPs) that aim to boost scalability, validator efficiency, and cross-layer communication.
Ethereum Prague Upgrade and Key EIPs Explained
Notable Ethereum Improvement Proposals (EIPs) include EIP-2537 for efficient BLS signature verification, EIP-2935 for accessing recent block hashes, and EIPs 6110 and 7002 for improved validator operations. EIP-7251 increases validator balance limits, while EIPs 7549, 7623, and 7685 enhance data handling and inter-layer messaging. EIPs 7691 and 7702 boost data blob capacity and introduce a new EOA transaction type, and EIP-7840 improves fork upgrade management.
Additionally, Ethereum’s updated RPC behavior will now prevent the inclusion of non-viable transactions in local mempools. This change reverses behaviors introduced in earlier versions, such as Multicapacitor v1.15.4.
The Prague upgrade marks another step in Ethereum’s evolution toward greater scalability, efficiency, and modular architecture. The blockchain ecosystem is advancing toward more sophisticated rollups, stateless clients, and improved validator mechanics. Updates like this pave the way for long-term growth and sustainability.
Binance offers early and clear support to ensure users remain unaffected during these transitions. This approach reinforces its role as a trusted partner in the ever-evolving world of crypto infrastructure.
Related | Bitcoin Core Removes OP_RETURN Limit in Major Update
