Bithumb has announced a temporary suspension of deposits and withdrawals for the OAS token. This decision is linked to an upgrade of the Oasys network aimed at improving blockchain technology.
Understanding the Bithumb OAS Token Suspension
Bithumb, a prominent South Korean cryptocurrency exchange, has officially announced a temporary suspension of deposits and withdrawals for the OAS token. This action, set to commence at 22:00 UTC on July 28, is related to the support for an upcoming upgrade on the Oasys blockchain. Such suspensions are a common practice among exchanges to ensure the safety of assets during significant protocol changes.
Why is the OAS Token Suspension Happening? The Power of Network Upgrades
The temporary suspension of OAS token services by Bithumb is directly linked to an impending network upgrade for Oasys. Upgrades are crucial for enhancing security, scalability, and introducing new functionalities. This is particularly relevant for Oasys, a blockchain designed for gaming, which can lead to improved transaction speeds and reduced costs for users.
What Should OAS Token Holders Do During This Period?
OAS token holders are advised to take several proactive steps during the suspension. It's essential to complete any transactions before the 22:00 UTC deadline on July 28, monitor official announcements from Bithumb, and consider alternative exchanges for trading. It's also a good reminder to maintain security by storing assets in non-custodial wallets.
The suspension of OAS token trading on Bithumb is a temporary measure aimed at supporting a crucial network upgrade for Oasys. This event highlights a commitment to development and security, positively influencing the long-term positioning of the tokens.
