Cryptocurrency exchange Bybit has announced its support for the Zilliqa network upgrade and upcoming hard fork scheduled for June 22, 2025. Transactions involving Zilliqa (ZIL) will be temporarily paused to ensure the safety of user assets.
ZIL Transaction Suspension on Bybit
Bybit, one of the major cryptocurrency exchanges, has announced its plans to support the Zilliqa network upgrade. During the hard fork scheduled for June 22, 2025, transactions involving ZIL will be temporarily paused.
Bybit's official statement emphasizes that the suspension is focused on ensuring user asset safety during the network upgrade.
Market and Upgrade Impact
The impact on the market is primarily logistical, as trading will continue, and the suspension of transactions is expected to be brief. Market participants anticipate a prompt return to normal operations following the upgrade's completion.
Financially, no new funding or institutional investments are indicated, as this event is routine, prioritizing transaction integrity and technological improvements.
Experts' Predictions on Zilliqa Upgrade
Such technical updates often result in temporary service pauses, reminiscent of past blockchain upgrades. Experts from Kanalcoin highlight that Zilliqa-focused upgrades typically proceed smoothly, concentrating on network stability with minimal disruption. Historical trends suggest user confidence remains steady post-upgrade.
The Zilliqa network upgrade scheduled for June 22, 2025, represents a standard practice within the cryptocurrency industry. The suspension of transactions is aimed at ensuring safety and network stability, leading to minimal disruption in market operations.
