Binance Suspends Ethereum Withdrawals Amid Crypto Market Crash
Amidst the prevailing crypto market crash, Binance, one of the largest cryptocurrency exchanges, is taking a proactive step to ensure the stability and security of the platform. Today, the exchange announced a scheduled maintenance window for the Ethereum Network.
As per the schedule, Binance will be performing essential wallet maintenance for Ethereum, temporarily suspending deposits and withdrawals tomorrow. Although trading activities will remain unaffected, users are recommended to plan and take necessary precautions to avoid any potential inconveniences.
What to Expect from Binance’s Ethereum Wallet Maintenance?
According to an official blog post published earlier today, Binance is planning to move ahead with a wallet maintenance program for the Ethereum Network. Reportedly, Binance will conduct the event on December 25, 2025, at 06:55 UTC. During this period, probably about one hour, the platform will suspend deposits and withdrawals.
However, Binance affirms that the Ethereum wallet maintenance will not affect crypto trading. As noted by the exchange, trading of tokens on the Ethereum network will continue without interruption during this period.
In addition, the exchange has promised to handle all technical requirements, ensuring a seamless experience for users. Also, the team added that the deposit and withdrawal services will be reopened once the maintenance is complete.
How Will Ethereum Maintenance Impact the Crypto Market?
Currently, the crypto market is facing an overarching negative trend, with key assets like Bitcoin and Ethereum experiencing significant losses. While Bitcoin hovers below the critical $90k point, Ethereum is struggling to surge above its key support at $3k.
Notably, Binance’s Ethereum wallet maintenance is expected to have a minimal impact on the broader crypto market. The maintenance, scheduled for one hour, will suspend ETH deposits and withdrawals, but trading will continue uninterrupted. This indicates that the development could not influence the market much. Given the current market trends, including increased volatility, the impact of this wallet maintenance is likely to be short-lived.
However, the event might cause some temporary price volatility in the Ether price due to reduced liquidity. But it is less likely to affect the long-term price prospects of ETH.
Is Ethereum Price Poised for Another Crash?
Currently, the Ethereum price is trapped in a bearish track, struggling to recover. As of now, ETH is valued at $2,930, down by 1.21% in a day. Despite this daily decline, the cryptocurrency is showing bullish signs as it has surged by 0.5% and 4.5% over the past week and month, respectively.
Industry experts and market analysts are presenting a cautious outlook on Ethereum’s future trend. For instance, analyst Ted sees $3k as ETH’s critical support level. He adds that the token may dip below $2,800 if it fails to surge above and holds this key support.
Arthur Hayes(@CryptoHayes) has just deposited another 682 $ETH($2M) into #Binance to sell and rotate into high-quality DeFi tokens.
In the past week, he has sold a total of 1,871 $ETH($5.53M), and bought 1.22M $ENA($257.5K), 137,117 $PENDLE($259K), and 132,730 $ETHFI($93K).… pic.twitter.com/2mddOY3H1t
— Lookonchain (@lookonchain) December 24, 2025
In addition, BitMEX co-founder Arthur Hayes’ Ethereum sell-off has also contributed to the prevailing bearish momentum. Over the past few days, Arthur has sold more than $5 million in ETH to buy DeFi tokens like Ethena, Pendle, and ether.fi. In the latest move, Hayes moved $2 million in ETH to Binance, hinting at a potential dump. Hayes’s action indicates his cautious approach to Ethereum, preferring DeFi tokens over ETH.
