Attention crypto traders! Bithumb, one of South Korea’s leading crypto exchanges, has announced a temporary suspension of DYDX deposits and withdrawals. This move is in preparation for dYdX’s highly anticipated mainnet upgrade. Here’s what you need to know.
Why is Bithumb Suspending DYDX Transactions?
Bithumb has confirmed that deposits and withdrawals of the DYDX token will be paused starting at 01:00 UTC on July 2. This suspension is a proactive measure to ensure a smooth transition during dYdX’s mainnet upgrade. The exchange aims to minimize disruptions for its users.
What Does This Mean for DYDX Traders?
- Deposits and withdrawals will be temporarily unavailable.
- Trading of DYDX may continue, but confirm with Bithumb’s official channels.
- Users should complete any pending transactions before the deadline.
Key Details About the dYdX Mainnet Upgrade
The upgrade is expected to bring significant improvements to the dYdX platform, including enhanced scalability and security. Bithumb’s suspension ensures compatibility with these changes.
How to Stay Informed
Monitor Bithumb’s official website and social media for updates. The exchange will likely announce when DYDX services resume post-upgrade.
FAQs
When will DYDX deposits and withdrawals resume on Bithumb?
Bithumb has not specified an exact date but will update users once the mainnet upgrade is complete.
Can I still trade DYDX on Bithumb during the suspension?
Check Bithumb’s official announcements, as trading may or may not be affected.
Why is dYdX upgrading its mainnet?
The upgrade aims to improve performance, security, and scalability of the dYdX platform.
Should I move my DYDX tokens before the suspension?
If you plan to deposit or withdraw DYDX, complete transactions before July 2 at 01:00 UTC.
