• Network upgrades and EVM integration

• Trading volume and investor demand

• Market sentiment and technical indicators

Network Upgrades and the EVM Hard Fork

The Cancun hard fork, which brought EVM compatibility to Zilliqa, has been a critical catalyst. This upgrade improves transaction efficiency and smart contract compatibility, making the network more appealing to developers. Investor demand responded positively, creating buying pressure. Such infrastructure improvements not only encourage short-term speculative buying but also contribute to long-term value creation.

Notable Growth in Trading Volume

ZIL’s price surge is strongly supported by a 24-hour spike in trading volume, both in spot and derivatives markets (open interest). Investors are interpreting this as a sign of new long positions rather than just short covering. While many altcoins remain range-bound, ZIL’s sharp movement highlights the strength of its technical foundations.

Total open interest has risen to approximately $55.1 million, reflecting a ~922% intraday increase, indicating extraordinary long-position activity and strong price momentum. Additionally, the Zilliqa price chart shows a breakout from a falling wedge pattern, with prices climbing over $0.007, signaling a strong buying opportunity based on both volume and trend.

What Do Technical Indicators Show?

Market sentiment and technical signals are also playing a major role in ZIL’s momentum. RSI recovery and the breach of key moving averages show buyers gaining control. Positive trends on social media and on-chain metrics are reinforcing investor interest and buying pressure.

On the daily chart, $0.00610 acts as a key support. Maintaining a daily close above this level would indicate a structural shift and increase the likelihood of further upward movement. Meanwhile, in case of a pullback, the first support level to watch is $0.0044, where price may find its initial reaction.

Broader Market Context and Long-Term Perspective

Although the overall crypto market can sometimes pressure altcoins, ZIL’s rise is largely driven by project-specific catalysts. Even if Bitcoin and Ethereum trade sideways or under slight pressure, Zilliqa’s network developments and investor interest have independently supported its price action. These factors strengthen the project’s medium- and long-term potential.

ZIL’s recent rally is driven by a combination of EVM integration, trading volume spikes, and market sentiment. The surge reflects both short-term momentum and long-term technical and fundamental developments. Investors should monitor both fundamentals and technical activity when evaluating price movements.

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What Happened on the Polygon Network?

• The last block was generated approximately two hours ago.

• Since then, the network has failed to produce any new blocks.

• There is no official explanation yet regarding the cause of the interruption.

According to data from blockchain explorers, block production on the Polygon chain has completely stalled. Initial speculation points toward a possible system-wide crash.

Why It Matters

Polygon is one of the leading Layer-2 solutions compatible with Ethereum, known for offering high speed and low transaction fees. As a result, such a network halt could cause delays and disruptions across multiple platforms — from DeFi protocols to NFT marketplaces.

This type of disruption is not only a technical issue but also a significant trust concern for both investors and developers. As one of the most prominent altcoin ecosystems, Polygon is expected to address this issue transparently and swiftly.

Ongoing Investigation

So far, no technical explanation has been provided. Neither the Polygon team nor its official social media channels have shared detailed updates. However, the community is closely monitoring the situation and actively sharing insights through forums and social platforms.

System-wide halts like this could stem from internal infrastructure failures or extended maintenance tasks that exceed their planned durations. Still, possibilities such as a hard fork, malicious attack, or unforeseen upgrade complications are also being considered.

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What is the Pectra Upgrade? 

Pectra introduces innovations in Ethereum’s execution (Prague) and consensus (Electra) layers, featuring 11 Ethereum Improvement Proposals (EIPs). Notably, EIP-7702 enables account abstraction, allowing wallets to function like smart contracts, offering flexibility in gas fee payments and transaction batching. Additionally, EIP-7251 increases the maximum effective balance for validators from 32 ETH to 2,048 ETH, enabling large validators to operate with fewer nodes. Pedro Gomes, founder of WalletConnect, stated that the upgrade targets both large-scale holders and end users utilizing smart wallets, batch transactions, and smart sessions. 

Innovations of the Ethereum Pectra Upgrade 

Pectra boosts blob data capacity, enhancing the efficiency of Layer 2 (L2) solutions. EIP-7691 raises the blob count per block from 3 to 6, with a maximum of 9. Furthermore, Verkle Trees and PeerDAS optimize data storage. Users can now pay gas fees with tokens like USDC instead of ETH, lowering barriers for new users. 

READ:$389M Token Unlock Looms: Which Coins Are at Risk?

Testing Process and Timeline 

Despite challenges on the Holesky and Sepolia testnets, Pectra succeeded on the Hoodi testnet. The Ethereum Foundation aims to activate the upgrade on the mainnet today. Developers are updating clients. Users do not need to “upgrade” their ETH; they should remain vigilant against scams. Pectra makes Ethereum more scalable and user-friendly, though competition with rivals like Solana persists. In the long term, the Verkle transition and Fusaka will further strengthen the network. Technical analysis indicates a neutral signal in the short term, with selling pressure dominating on a weekly basis. 

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Planned Updates to Neutron and Polygon Networks

According to Binance, the Neutron (NTRN) network will be updated on February 12, 2025, when the block height reaches 19,947,000. To ensure a smooth update, Binance will temporarily suspend deposits and withdrawals on the Neutron network on February 12 at 16:00 BST (13:00 UTC).

Similarly, the Polygon (POL) network will be updated on February 13, 2025, when the block height reaches 22,393,043. Deposits and withdrawals on the Polygon network will be halted on February 13 at 12:00 a.m. PT (09:00 UTC).

How Will It Affect Binance Users?

Binance stated that trading will continue as normal during the updates and that users’ assets are safe. The platform said that deposits and withdrawals will be reopened once the network upgrades are complete and verified as stable, but no further announcements will be made.

Cryptocurrency exchanges are trying to support updates to their blockchain networks to ensure smooth trading for users. Binance also stated that it will undertake the technical requirements and manage the processes without any user intervention.

While these developments are stated to increase the security and performance of both networks, users are advised to be prepared for possible interruptions during updates.

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To ensure a seamless experience for its users, Binance stated it will temporarily suspend CTK token deposits and withdrawals on November 19, 2024, at 06:00 AM  to support the network upgrade and hard fork.

Key Points to Note:

– The trading of tokens on the specified network will not be affected.

– Binance will handle all technical requirements on behalf of its users.

– Deposits and withdrawals for tokens on the upgraded network will resume once the network is deemed stable.

What Is a Hard Fork? 

A hard fork is a protocol update that validates previously invalid blocks or transactions. In such cases, all nodes or users must upgrade to the latest version of the protocol software. In simpler terms, a hard fork is a permanent divergence from the previous version of the blockchain.

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Key Details of the Upgrade and Hard Fork

– Upgrade Time: The network upgrade and hard fork will occur when the blockchain reaches block height 20,949,300, approximately at 12:00 UTC on October 30, 2024.

– Scope: Although deposits and withdrawals will be halted, Shentu (CTK) token trading will continue without interruption. Users can trade tokens on Binance as usual.

– Technical Support: Binance will manage all technical requirements to ensure user security, meaning users will not need to take any technical actions during this process.

User Security

Binance aims to prioritize user security during network upgrades and hard fork processes. Crypto exchanges typically monitor token trading volume or price fluctuations during such upgrades, which are often done to enhance token security and performance. Binance will take technical precautions to prevent any negative impact on users and will resume deposit and withdrawal operations once the upgrade is complete.

Points of Interest

This announcement highlights the importance of network updates in the crypto ecosystem. These upgrades make the network more secure, scalable, and efficient. However, the technical details can be confusing for many users. Binance’s focus is on providing secure trading for its users while keeping them away from complex technical processes.

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The post Support for Binance Shentu (CTK) Network Upgrade and Hard Fork! appeared first on Coin Engineer.

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Zilliqa (ZIL) Network Upgrade and Hard Fork

The Zilliqa (ZIL) network upgrade and hard fork will take place on January 3, 2024 at 09:00 UTC. During this time, Binance will suspend deposits and withdrawals of Zilliqa (ZIL) tokens on the network, effective at approximately 08:00 UTC on January 3, 2024.

This update is being implemented to improve the security and efficiency of the Zilliqa network. Users will be able to continue to trade Zilliqa on Binance during this time.

Sei (SEI) Network Upgrade

The Sei (SEI) network upgrade will take place at block height 49,519,931, or approximately January 3, 2024 at 17:00 UTC. During this update, Binance will temporarily suspend deposits and withdrawals of Sei (SEI) tokens on the network, effective at approximately 16:00 UTC on January 3, 2024.

Binance aims to improve the performance, security, and functionality of the Sei (SEI) network with this upgrade. Users will be able to continue trading Sei (SEI) on Binance.

Also, these updates will not affect the trading of tokens on the affected networks.

The post Binance to Support ZIL and SEI Network Upgrades! appeared first on Coin Engineer.

The network upgrade and hard fork will take place on 29th November, 2023. During this time, MATIC token holders can follow significant developments related to the network upgrade and hard fork via Binance.

According to the announcement, token deposit and withdrawal transactions will be suspended from 15:30 on 29th November, 2023. It is important for users to be careful during this period and plan their transactions during these hours.

With the announcement of Binance, the strengthening of the Polygon ecosystem and further development of the network could provide a new perspective to investors regarding the future of the MATIC token.

Binance’s support for Polygon causes excitement in the cryptocurrency community, and closely monitoring the impact of these developments on the network will be essential for user’s security and transaction experiences.

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The community approved the decision to reduce ATOM’s inflation rate from 14% to 10% in a vote they held on Sunday. Kwon, who received this approval, used the expressions “Let’s coordinate a split” on Twitter. Although the annual staking return of ATOM will drop from 19% to 13.4% as a result of the vote, Kwon does not find this situation impressive enough and invites the community to participate in a hard fork.

According to Kwon’s plan named AtomOne, the forked chain will support not only ATOM but also the native token named ATOM1.

“I believe there should be token integration, so instead of selling our ATOMs en masse and deeply affecting the ecosystem, we can participate with ATOM. Tokenomy experts will do the necessary trials.”

Cosmos expert and Strategy President of Stride Zone John Galt believes that a potential hard fork could solve longstanding intra-community conflicts and positively affect ATOM token holders.

Galt also believes that the hard fork could trigger the largest ATOM airdrop to date and increase the trading volume of both ATOM and ATOM1 tokens.

However, according to CoinDesk data, ATOM is trading at $9.59, down 3.5% on the day. Although the cryptocurrency remained above $10 throughout the weekend, it could not establish significant support above the three-week resistance. This weakness of the token may be due to the industry leader Bitcoin’s attempt to exceed $38,000.

What is Fork? What are the differences between Hard Fork and Soft Fork?

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There are different types of forks. A hard fork is a complete split, creating a new platform with its own cryptocurrency. A soft fork is more like a modification of the existing cryptocurrency. It’s like adding some new leaves to the tree without creating a whole new branch.

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When hard fork happens, prices often go up because people are excited about the new cryptocurrency. However, prices can decline afterward as the market settles and people decide which version they prefer.

An example of the BTC hard fork in August 2017. Before the fork, there were different ideas:

• Some believed the new coin, Bitcoin Cash, would become more popular than the original Bitcoin.
• Others thought the original Bitcoin would remain on top and Bitcoin Cash would disappear.

Second idea was closer to being right. Bitcoin is still highly valuable, while Bitcoin Cash is worth much less. However no one knew for sure what would happen. Both Bitcoin and Bitcoin Cash saw a surge in prices after the fork.

Famous Bitcoin Forks:

• Litecoin
• Bitcoin XT
• Bitcoin Classic
• Segregated Witness
• Bitcoin Cash (BCH)
• SegWit2x
• Bitcoin Gold
• Bitcoin Diamond (BCD)
• Bitcoin Private

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