Attention crypto traders! Bithumb, one of South Korea’s leading crypto exchanges, has announced a temporary suspension of RON token deposits and withdrawals. This move is in preparation for Ronin’s highly anticipated mainnet upgrade. Here’s what you need to know.
Why is Bithumb suspending RON transactions?
Bithumb has confirmed that RON token deposits and withdrawals will be paused starting at 01:00 UTC on July 3. This suspension is to ensure a smooth transition during Ronin’s mainnet upgrade. The upgrade aims to enhance the network’s performance and security.
Key details about the RON token suspension
- Start time: 01:00 UTC on July 3
- Reason: Support for Ronin’s mainnet upgrade
- Impact: Temporary halt on deposits and withdrawals
What does this mean for RON token holders?
If you hold RON tokens on Bithumb, ensure all transactions are completed before the suspension begins. Trading of RON tokens will remain unaffected during this period.
Ronin’s mainnet upgrade: What to expect
The upgrade is expected to bring several improvements, including faster transaction speeds and enhanced security features. This is a significant step for the Ronin network, which powers popular blockchain games like Axie Infinity.
Conclusion
Bithumb’s temporary suspension of RON token transactions highlights the importance of staying informed about crypto updates. While the pause may cause minor inconveniences, the long-term benefits of Ronin’s mainnet upgrade are worth the wait.
Frequently Asked Questions (FAQs)
1. When will Bithumb resume RON token deposits and withdrawals?
Bithumb has not specified an exact resumption time. Updates will be provided on their official website.
2. Can I still trade RON tokens on Bithumb during the suspension?
Yes, trading will continue as usual. Only deposits and withdrawals are affected.
3. Why is Ronin upgrading its mainnet?
The upgrade aims to improve network performance, security, and scalability.
4. How long will the suspension last?
The duration depends on the completion of Ronin’s mainnet upgrade. Stay tuned for announcements.
5. What should I do if I have pending RON transactions?
Complete all transactions before the suspension begins to avoid delays.
