Bithumb, one of the leading cryptocurrency exchanges, has announced a temporary halt on deposits and withdrawals of the BABY token. This decision comes as part of a necessary network upgrade aimed at enhancing the platform's security and performance. The source notes that users will be notified once the upgrade is complete and services resume.
Maintenance Period Announcement
The maintenance period is set to commence at 2:00 AM UTC on November 24, during which all transactions involving the Babylon BABY token will be suspended. However, trading of the token will remain active, allowing users to continue buying and selling without interruption.
Standard Practice During Upgrades
Bithumb has stated that such temporary suspensions are a standard practice during blockchain upgrades. The exchange aims to ensure that the upgrade process is executed smoothly, thereby reinforcing network security and protecting user assets. This proactive approach reflects Bithumb's commitment to maintaining the integrity of its platform and the safety of its users.
Despite Bithumb's recent announcement regarding the temporary halt of BABY token transactions for a network upgrade, Chainlink's LINK token has shown signs of recovery. For more details, see LINK recovery.
