The new rules are set to go into effect next Thursday, May 18, starting at 8:00 a.m. UTC.
“Binance will actively work to further reduce processing times for ETH withdrawal requests from stacking in order to better meet users’ needs,” the Binance team promised in an official statement.
The actual time it takes to fully process ether withdrawal requests is determined by the ratio of the total amount of ETH requested by participants to the capacity of the Etherium network.
Therefore, the exchange specifies, the time can dynamically change. Earlier, the Binance exchange announced about the change in the delisting procedure for crypto-assets.
Under the platform’s new rules, instead of permanently removing the highly volatile token, the asset will be moved to the “innovation zone,” where it will get a second chance to recover its rate.