Bithumb will temporarily suspend Injective (INJ) deposits and withdrawals starting July 31, 2025, at 6:00 PM KST to accommodate a mainnet upgrade.
The suspension is part of routine protocol maintenance, expected to have transient effects, aligning with past exchange upgrade practices without significant market disruption.
Bithumb to Suspend Injective from July 31 for Upgrade
Bithumb will temporarily suspend Injective deposits and withdrawals starting July 31, 2025, at 6:00 PM KST. This measure supports the Injective mainnet upgrade and aligns with standard protocol during major blockchain updates.
The announcement came from Bithumb, a major South Korean crypto exchange. Other major exchanges like Upbit and Binance have also declared similar suspensions reflecting network-wide coordination. “To support the Injective (INJ) network (mainnet) upgrade, INJ deposits and withdrawals will be temporarily suspended starting July 31, 2025, at 6 PM (KST).”
Minimal Financial Impact Expected from Temporary Suspension
Upgrades like these are procedural, ensuring funds’ safety and transaction finality. Financial impact is minimal, with no reports of disruptions in past upgrades. Neither Bithumb nor Injective leadership has expressed specific views on this suspension.
Historically, public data shows transient fluctuations in exchange balances during upgrades, without significant market risks. The suspension is not linked to any regulatory actions and targets improved network functionality.
Suspensions During Upgrades: Historical Lessons
Previous suspensions, such as for NEAR, showed that trading resumed without lasting market impact. Procedural suspensions protect user funds during vital blockchain updates.
Insights from Kanalcoin suggest that these events tend to be routine with positive community sentiments. Upgrades focus on enhancing system efficiency and security.
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