Leading South Korean crypto exchange Bithumb has announced a temporary suspension of ZETA deposits and withdrawals due to the upcoming ZetaChain mainnet upgrade.
Reasons for ZETA Transaction Suspension
The core reason behind the temporary halt is the anticipated ZetaChain mainnet upgrade. A mainnet upgrade is a significant modification of a blockchain's infrastructure, aimed at enhancing network performance, security, and introducing new features. Bithumb has decided to suspend ZETA-related transactions temporarily to safeguard user assets and ensure a smooth network transition during the upgrade.
Details About Bithumb's ZETA Suspension
The suspension of ZETA deposits and withdrawals will commence at 09:00 UTC on February 24th. The action is linked to the ZetaChain mainnet upgrade and affects any platform dealing with ZETA, not just Bithumb. This suspension targets ZETA transactions specifically, leaving other cryptocurrencies on Bithumb unaffected. The duration is described as temporary, with the expectation of resuming activities post the mainnet upgrade.
Advice for ZETA Holders on Bithumb
ZETA holders should plan any necessary transactions before 09:00 UTC on February 24th. It's crucial to monitor Bithumb's official announcements for updates on the completion of the upgrade and the resumption of ZETA transactions. Official Bithumb channels should be followed closely for accurate information. If trading ZETA actively, be aware of potential price volatility during the upgrade period. Consider managing assets via personal wallets with caution, ensuring the use of reputable and secure platforms.
Bithumb's suspension of ZETA operations due to the ZetaChain mainnet upgrade is a temporary measure with positive implications for the ZETA network's future. Staying informed, planning ahead, and understanding the nature of these evolutions is crucial for navigating the dynamic cryptocurrency landscape.
