Are you holding or trading the SEI token on Bithumb? Pay close attention! A significant announcement from the major South Korean crypto exchange could impact your activities.
What’s Happening with Bithumb and SEI?
Bithumb has officially announced a temporary halt on deposits and withdrawals for the SEI token. This measure is being taken to support an essential upgrade planned for the underlying Sei network.
When Does the Suspension Take Effect?
According to the announcement on Bithumb’s official website, the suspension is scheduled to begin precisely at 09:00 UTC on June 20. It’s crucial for users planning any deposit withdrawal actions involving SEI to complete them before this time.
Why Is This Suspension Necessary?
Network upgrades are vital for improving the performance, security, and functionality of a blockchain. The upcoming Sei network upgrade likely involves technical changes that require exchanges like Bithumb to pause transactions to ensure a smooth transition and protect user assets. Temporarily suspending deposit withdrawal services prevents potential issues that could arise from transactions occurring during the upgrade process.
What Should SEI Token Holders Do?
If you need to deposit or withdraw SEI token from Bithumb, make sure to initiate and complete these transactions well before the 09:00 UTC deadline on June 20. Keep an eye on Bithumb’s official channels for updates regarding the completion of the Sei network upgrade and the resumption of services.
Keeping Up with Crypto Exchange Updates
This event highlights the importance of staying informed about announcements from your preferred crypto exchange. Whether it’s maintenance, upgrades, or policy changes, these updates can directly affect your ability to trade and manage your digital assets. Always refer to the official website or communication channels of exchanges like Bithumb for the most accurate and timely information.
In Summary
Bithumb is temporarily suspending SEI token deposit and withdrawal services starting June 20 at 09:00 UTC to facilitate a Sei network upgrade. Users should complete any necessary deposit withdrawal operations before the deadline and monitor Bithumb’s announcements for service resumption. Staying informed is key to navigating the dynamic world of cryptocurrency trading.
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