Attention crypto traders! Bithumb, one of South Korea’s leading exchanges, has announced a temporary suspension of deposits and withdrawals for BSC-linked tokens. This move supports the upcoming BNB network upgrade, impacting several popular tokens. Here’s what you need to know.
Why is Bithumb suspending BSC token transactions?
Bithumb’s decision aligns with BNB Smart Chain’s scheduled mainnet upgrade. The exchange will suspend services for all BSC-linked tokens starting June 30 at 01:00 UTC to ensure smooth network transition. This proactive measure helps prevent potential transaction issues during the upgrade process.
Which tokens are affected by this suspension?
The temporary halt impacts 21 BSC-based tokens, including major projects like:
- BNB (BNB)
- PancakeSwap (CAKE)
- STEPN (GMT)
- Floki (FLOKI)
- Venus (XVS)
Other affected tokens include ACE, C98, COOKIE, D, EDU, HIGH, HOOK, IOST, PARTI, PUMP, SFP, SOLV, THE, XTER, and MONKY.
What should crypto traders do before June 30?
Users should complete all pending BSC token transactions before the suspension window begins. Consider these action items:
- Review your Bithumb wallet for any BSC tokens
- Complete withdrawals at least 24 hours before the deadline
- Monitor official channels for updates on service restoration
When will normal operations resume on Bithumb?
Bithumb hasn’t specified an exact timeline but will likely restore services after confirming network stability post-upgrade. The exchange typically announces resumption through its official website and social media channels.
How does this affect the broader crypto exchange landscape?
This temporary suspension demonstrates how exchanges adapt to blockchain upgrades. Similar measures often occur during major network updates across different platforms. Bithumb’s proactive approach aims to minimize user disruption while ensuring technical compatibility.
Stay ahead of the curve by bookmarking Bithumb’s official announcements page and setting reminders for the June 30 deadline. While temporary, such suspensions remind us of blockchain’s evolving nature and the importance of exchange transparency during technical transitions.
Frequently Asked Questions
Will trading of BSC tokens be suspended on Bithumb?
No, only deposits and withdrawals will be temporarily halted. Trading can continue as normal during this period.
How long will the suspension last?
The duration depends on the BNB network upgrade completion. Bithumb will announce when services resume.
Are other exchanges suspending BSC token transactions?
Each exchange makes independent decisions. Check announcements from platforms where you hold BSC tokens.
Can I still receive BSC token deposits during the suspension?
No, all deposit and withdrawal functions for affected tokens will be disabled during the suspension period.
Will this affect token prices?
While temporary suspensions sometimes cause minor volatility, major price impacts are unlikely for this planned technical upgrade.
