While the cryptocurrency market continues its activity, important announcements for investors came one after another. South Korea-based cryptocurrency exchange Upbit announced that it will suspend some transactions due to upgrades to the Cosmos (ATOM coin) and Sei (SEI) networks. At the same time, global cryptocurrency exchange Binance announced that it will perform wallet maintenance on July 17.
ATOM coin and SEI transactions are suspended on Upbit
According to the official statement made by Upbit, due to the upgrade works to be carried out on the Cosmos (ATOM) network, ATOM deposits and withdrawals will be suspended as of July 17, 2024, at 18:00 Korean time. It has not yet been announced when transactions will be active again after the upgrade is completed and the stability of the network is ensured. Investors were warned that if they try to invest in ATOM after this date, the assets may not be reflected in their accounts and their return may be difficult.
Similarly, since the Sei network will also enter the upgrade process, SEI deposits and withdrawals will be suspended on the Upbit platform starting from July 15, 2024, 18:00 KST. It is not yet clear how long this situation will last. Upbit warned investors not to trade during the upgrade process.
Wallet maintenance and transaction halts on Binance
Global cryptocurrency exchange Binance announced that it will perform wallet maintenance on July 17, 2024. As part of these maintenance efforts, all network deposits and withdrawals will be suspended on the same day. While the maintenance is expected to take approximately 1 hour, the operations are planned to be automatically reactivated after the maintenance is completed.
Arbitrum is suspended on PancakeSwap
In addition to the announcements on cryptocurrency exchanges, important news also came from the decentralized exchange (DEX) platform PancakeSwap. According to official news from PancakeSwap, the prediction market on Arbitrum has been suspended due to API issues. The platform announced that work is continuing to solve the problem and the progress will be shared with followers instantly.
Cryptocurrency exchanges and Blockchain networks regularly perform upgrades to increase security and functionality. It is normal practice for the network to be suspended and operations stopped for a period of time during these upgrades. Investors are advised to follow these announcements to check whether the assets they plan to trade are undergoing maintenance or upgrades on their respective networks or exchanges. In this way, investors can prevent their transactions from being delayed or their assets from being lost.
These days, as the activity in the cryptocurrency market continues, important announcements for investors have come one after another. Transactions will be suspended on Upbit due to ATOM and SEI network upgrades, while Binance will perform wallet maintenance. It is important for investors to follow these announcements, plan their transactions and avoid possible delays.
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