- As the cryptocurrency market continues its dynamic movement, investors have been met with a series of crucial announcements.
- South Korea’s major crypto exchange Upbit has announced a temporary suspension of certain transactions due to upcoming upgrades on the Cosmos (ATOM) and Sei (SEI) networks.
- Moreover, global exchange Binance is set to conduct wallet maintenance on July 17th.
Stay informed about the latest market updates and how they might affect your crypto investments.
Upbit Temporarily Halts ATOM and SEI Transactions
In an official announcement, Upbit revealed that owing to the scheduled upgrade works on the Cosmos network, deposits and withdrawals for ATOM will be suspended starting from 6:00 PM KST on July 17th, 2024. The timeline for the resumption of these operations is yet to be confirmed after the network’s stability is ensured. Investors are cautioned that attempts to deposit ATOM post-suspension might lead to account discrepancies and potential asset loss.
Sei Network Upgrades Prompt More Suspensions
Similarly, Sei network’s upgrade processes will see SEI deposits and withdrawals halted from 6:00 PM KST on July 15th, 2024. The duration of this suspension remains unclear. Upbit advises users to avoid attempting transactions during the maintenance period to prevent complications.
Binance Wallet Maintenance Scheduled
Adding to these developments, Binance, a globally recognized crypto exchange, has scheduled a wallet maintenance on July 17th, 2024. This maintenance will result in a temporary suspension of all network deposit and withdrawal activities for about one hour. Binance assures users that all functionalities will automatically resume post-maintenance.
PancakeSwap Faces Interruptions on Arbitrum
On the decentralized exchange (DEX) front, PancakeSwap has announced an interruption on its Arbitrum-based prediction market due to API issues. The platform is actively working on resolving these issues and will provide regular updates to its community.
Conclusion
In summary, several crypto exchanges and networks are engaged in critical maintenance and upgrades. Upbit’s temporary suspension of ATOM and SEI transactions, Binance’s scheduled wallet maintenance, and PancakeSwap’s Arbitrum challenges are all aimed at enhancing network security and functionality. Investors are encouraged to keep abreast of these updates to ensure their transactions are not adversely affected. Staying informed is crucial to navigating the fluctuations and ensuring the safety of their digital assets. Follow the respective official channels for timely updates and detailed guidance.
