Woofun AI reports that Binance has initiated a temporary suspension of Metal (MTL) deposits and withdrawals to accommodate a critical network upgrade and hard fork. This operational pause is designed to ensure the integrity of the Metal blockchain during its scheduled protocol transition.

The service interruption commences precisely at 3:00 p.m. UTC on July 8, targeting all deposit and withdrawal functions for the asset.

Notably, trading of MTL pairs remains fully active throughout this period, allowing users to execute market orders without restriction. The exchange has not defined a specific end time for the halt, indicating that resumption depends on post-upgrade stability assessments.

Structurally, such hard forks require synchronized coordination among node operators, exchanges, and wallet providers to prevent systemic failures. The primary risk during these transitions involves transaction reversals or the accidental creation of incompatible token versions, which could compromise user balances. By freezing inbound and outbound flows, Binance mitigates the potential for double-spending or asset fragmentation during the consensus change.

Users holding MTL on the platform are advised to transfer assets to external wallets or other exchanges prior to the July 8 cutoff. Per Woofun AI, the exchange directs all stakeholders to monitor Binance’s status page and official channels for real-time updates on the upgrade’s progress. Failure to move funds before the deadline may result in temporary inaccessibility until the new network version is fully operational.

This measure reflects standard industry protocols for managing blockchain upgrades, prioritizing network security and functionality over immediate liquidity. While the halt imposes short-term friction on fund movements, it underscores responsible exchange practices aimed at preserving asset integrity during technical transitions.