- Phase 1 of the $BNB Beacon Chain Token Recovery to conclude on April 30.
- There are a total of 3 phases.
- $BNB price has dipped by 0.77% over the last 24 hours.
$BNB Chain has shared details about the $BNB Beacon Chain Token Recovery Tool phase 1. It has recommended to start migration at the earliest to avoid delays. Meanwhile, the $BNB token has recorded a dip over the last 24 hours. The Binance token, with this, stands out on the list, given that most of the cryptocurrencies are adding gains to their respective values.
$BNB Beacon Chain Token Recovery Tool
There are a total of 3 phases, out of which the first phase is scheduled to conclude on April 30, 2026. $BNB Chain, in the official announcement, has clarified that tokens should be migrated from $BNB Beacon Chain to $BNB Smart Chain. If not done, then it could lead to delays as the processing time would pile up.
It is important to note that only BEP2 tokens on $BNB Beacon Chain are eligible for recovery, provided they mirrored BEP20 tokens on $BNB Smart Chain. Additionally, permissionless mirroring (BEP84) has been disabled permanently. It is not likely to be reversed.
The token recovery flow has 5 steps, starting with the token selection and recovery initiation. The second step is where users enter a BSC receiver address & confirm the same, followed by a switch to BSC network. The finalization of recovery is currently for 7 days, and makes up for the 4th step, after which tokens are automatically received in the address.
Three Phases of Sunset
The recovery time will increase in every phase. The first phase has commenced with the conclusion date of April 30, 2026. The second phase is scheduled to start on May 1 and conclude on June 30. The recovery time could take over a month because requests will be processed in batches.
The recovery time for the third and final phase is yet to be made public; however, it is certain that the process will be manual, as users will have to execute transaction signing. It will begin on July 01, 2026, and conclude as per the details to be provided soon.
$BNB Price
$BNB price, on the sidelines, is standing out on the list of top cryptocurrencies. It is one of the few tokens to see a dip in value. The Binance token is currently down by 0.77% over the last 24 hours, trading at $672.01.
However, its weekly gain comes to 3.97%, and the monthly gain stands at 7.02%.
