Binance Supports For FIRO Hard Fork & Network Upgrade, Price Jumps 3%
Highlights
- Binance reveals that it will support Firo hard fork and network upgrade shortly ahead this month.
- The hard fork and network upgrade aims to bring revolutionary changes.
- Firo price jumps nearly 3% with looming advancements and Binance's support.
On Thursday, September 12, crypto exchange Binance announced that it would be supporting the hard fork and network upgrade for privacy-focused digital cash project Firo. The announcement has led to major buzz in the crypto community with the FIRO price surging by 3% in the past hour.
Binance Jacks Up FIRO Triggering Optimism
According to an official announcement by Binance dated September 12, the crypto exchange will start preparations for supporting the privacy-focused platform’s hard fork and network upgrade shortly ahead. Aligning with this mover, the exchange will halt deposits and withdrawals for the FIRO token starting September 16 at 04:00 UTC. This decision comes as an approach to ensure the best user experience, the crypto exchange clarified.
The hard fork and network upgrade is set to occur at the block height 958,655, or roughly on September 16 at 05:00 UTC. Moreover, as per the coin’s community, the upgrade Firo v0.14.14.0 will mandate tokenomics changes, as voted by the community.
Following the upgrade, the new block reward distribution will be 70% Masternodes, 5% Miners, 15% Development Fund, and 10% Community Fund. Firo’s official announcement offers a detailed view of all the changes.
With Binance’s extension of support to the project’s upcoming advancements, crypto market participants speculate over its price action ahead.
Token Price Jumps 3% Today
Meanwhile, FIRO price gained nearly 3% in the past 24 hours and is currently trading at $1.12. The coin’s intraday low and high were recorded as $1.07 and $1.14, respectively. Today’s pumping price movements fall in line with the broader market trend and Binance’s support for the project’s upcoming upgrades. Moreover, the coin’s 24-hour trading volume surged slightly by 7%.
Notably, the crypto exchange behemoth’s expansion of offerings for cryptocurrencies has previously sparked an upward movement in prices. For context, AERGO price soared with Binance‘s enhanced offerings recently, CoinGape Media reported.
Altogether, crypto market enthusiasts speculate whether the looming developments could ignite a rally in the privacy-focused digital cash protocol ahead.
- Trump Tariffs: Secretary Bessent Declares ‘Fantastic’ Trump–Xi Talks, Bitcoin Breaks $113,000
- Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?
- White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC
- Ripple Explores New XRP Use Cases as Brad Garlinghouse Reaffirms Token’s ‘Central’ Role
- Kyrgyzstan Adds Binance Coin (BNB) to National Crypto Reserve, CZ Confirms
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
