Bithumb, a leading player in the cryptocurrency market, has announced a temporary suspension of services for the ZRC token to support the upcoming Zircuit network upgrade.
What Does Bithumb's ZRC Suspension Mean?
Bithumb has officially suspended deposits and withdrawals of ZRC tokens. This decision will take effect at 08:00 UTC on August 5. The suspension is a proactive measure to prevent the loss of funds and transaction errors during the upcoming network upgrade.
Why Are Network Upgrades Important and What is Zircuit?
Network upgrades, such as the one anticipated for Zircuit, are necessary for improving performance, security, and introducing new features. Zircuit is a Layer 2 network built on Ethereum focusing on the security and efficiency of decentralized applications.
How to Prepare for the Zircuit Network Upgrade and ZRC Suspension?
ZRC token holders are advised to complete any deposits and withdrawals before the 08:00 UTC deadline on August 5, monitor Bithumb's official announcements, and avoid last-minute transactions to minimize risks.
The suspension of ZRC services is a standard measure in the cryptocurrency space aimed at ensuring the safety of users' assets during network upgrades.
