Upbit has announced a temporary suspension of SEI deposits and withdrawals as part of a significant network upgrade for the Sei blockchain. This measure is aimed at ensuring a seamless transition and improved performance for users. According to the conclusions drawn in the analytical report, the upgrade is expected to enhance transaction speeds and overall network efficiency.
Scheduled Halt for SEI Token Transfers
The halt will begin at 3:00 AM UTC on December 23, during which users will be unable to transfer SEI tokens to or from external wallets. However, existing SEI holdings will remain secure within Upbit wallets. This upgrade is crucial for introducing new features, enhancing security, and improving scalability of the Sei network.
Important User Instructions
Users are encouraged to finalize any pending transactions and double-check wallet addresses before the deadline to avoid any inconveniences. It's important to note that trading of SEI on Upbit's internal market will continue without interruption during this period.
The Union Square Holiday Market recently integrated Avalanche blockchain for stablecoin payments, enhancing vendor and shopper experiences during the holiday season. This innovation contrasts with Upbit's temporary suspension of SEI transactions for a network upgrade. For more details, read more.
