The cryptocurrency exchange Upbit has announced a temporary suspension of operations with Injective (INJ) tokens due to an upcoming network upgrade, effective August 19, 2023.
What Does the INJ Suspension on Upbit Mean?
Upbit has confirmed a suspension of deposits and withdrawals for INJ tokens as part of the Injective network upgrade. The suspension begins at 03:00 UTC on August 19, aimed at ensuring user funds' safety during the technical update.
Reasons for the INJ Suspension
The suspension of INJ operations on Upbit is due to the planned upgrade of the Injective network, which may require significant changes to the protocol. Such suspensions are standard practice in the crypto industry to protect user assets during major technical updates.
What Should INJ Holders Do During the Suspension?
INJ holders should perform any necessary transactions prior to the suspension starting. It's advisable to monitor Upbit's official announcements and evaluate the decision of holding INJ based on individual trading or investment strategies.
The suspension of INJ operations on Upbit is a temporary measure necessary for the successful upgrade of the Injective network. Users should stay informed and plan their actions in advance.
