Tomorrow, May 18th, the Binance exchange is scheduled to carry out maintenance of BCH wallets
The procedure will take about 8 hours. At this time, BCH will be temporarily stopped. Start time May 18th, 2021 05:55 (UTC). Upon completion of maintenance, deposits and withdrawals will be renewed without re-announcement.
Also, representatives of the exchange warned that the planned reverse split of some tokens traded on the stock exchange will be postponed. The new date will be announced separately in the Binance blog.
Reverse split is the procedure of reducing the number of tokens traded by combining them and exchanging them for a smaller amount with more liquidity (price).
This process is usually introduced due to drastic changes in cost to ensure easier and more profitable leverage trading. This is not a new process. It is often held with financial instruments such as stocks.
Earlier it was reported that 10,000 YFIDOWN tokens will be changed to 1 token. At the end of the process, the balances on users' accounts will be updated.
At the same time, if before the start of the process there were 1 million YFIDOWN tokens in the account, then after the exchange their number will be 100 tokens. And YFIDOWN tokens at Binance are expected to rise in price.
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