Bithumb, a major South Korean cryptocurrency exchange, announced temporary suspensions of deposits and withdrawals for several tokens due to network upgrades occurring across February 3 to February 5, maintaining regular trading activities.
These routine suspensions are aligned with blockchain updates, aimed at network stability, allowing trading of unaffected tokens like ETH and BTC to maintain liquidity during the maintenance period.
Bithumb, a leading South Korean cryptocurrency exchange, has announced a temporary suspension of deposit and withdrawal services for specific tokens due to network upgrades. The trading and price feeds remain unaffected, ensuring continuity for traders.
The suspension targets only deposit and withdrawal services without affecting trading, potentially minimizing market impact. Experts highlight that this ensures liquidity levels remain stable, preventing potential disruptions in broader market operations.
Bithumb Pauses Token Transactions Due to Network Upgrades
Involved entities include Bithumb and token networks like Story and Aria Protocol. These steps are routine maintenance events aimed at accommodating blockchain updates, with services expected to resume shortly after completion.
Market Liquidity Remains Unaffected Amid Token Pauses
Historical trends indicate such pauses often result in minimal financial impact. With no regulatory changes involved, the incidents are purely technical, adhering to upgrade necessities of associated blockchain networks, according to experts.
Past Suspension Patterns Show Minimal Price Impact
Such suspensions are regular in the industry, with similar occurrences observed at Binance and Coinbase during network upgrades. Historically, these have shown scant impact on token prices due to their temporary nature and specificity.
Experts from Kanalcoin suggest that any short-term inconvenience will likely not lead to significant financial shifts. Data and past trends illustrate a pattern where trading continues unaffected, aligning with Bithumb’s historical practices.
“We have announced temporary suspensions of deposit and withdrawal services for specific tokens due to network upgrades, but trading or price feeds remain uninterrupted.” – Official Bithumb Announcement
Bithumb and token networks like Story and Aria Protocol have been discussed in the context of routine maintenance events.
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