Upbit, South Korea’s leading cryptocurrency platform, has temporarily paused Stellar Network’s XLM transactions from 18:00 on September 3, 2025, due to the Protocol 23 upgrade.
The suspension aims to enhance network stability, aligning with past protocol upgrades and reflects normal risk management practices with minor XLM market volatility observed.
Upbit announced a temporary suspension of Stellar Network deposits and withdrawals, aimed at supporting Protocol 23 upgrades. The action began on September 3, 2025, to protect and stabilize network operations during the upgrade period. In its official notice, Upbit stated, “Due to Stellar Network’s upgrade, deposits and withdrawals will be temporarily suspended from 18:00 on September 3, 2025. Services will resume upon confirmation of network stability.” — source
Key entities include Upbit, South Korea’s largest exchange, and Stellar Network, managed by the Stellar Development Foundation. The decision targets risk management and ensures user safety against potential disruptions from the protocol transition.
Upbit Halts Stellar Transactions amid Protocol 23 Upgrade
The suspension potentially affects XLM’s market activity, creating temporary inconvenience for traders and investors. However, this is typical during major upgrades to safeguard networks and user investments.
Analysts suggest possible price volatility and briefly altered liquidity patterns. Historical data indicates that such suspensions can lead to price consolidations, highlighting the balance shift between short-term impacts and long-term network stability post-update.
Past Upbit Network Halts Show Minimal Disruption
Comparatively, Upbit has handled similar events where network upgrades necessitate temporary halts, such as with EthereumFair and Moonbeam. Such pauses have historically resulted in minimal long-lasting market disruptions.
Based on Kanalcoin’s expert analysis, past protocol transitions like Stellar’s lead to cautious optimism. Short-term fluctuations generally precede positive post-upgrade adjustments when institutional and retail shareholders regain confidence.
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