Bithumb Suspends OAS Deposits and Withdrawals for Network Upgrade

IconCryptoNewsTerminal Staff24 Jul, 2024

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Bithumb Suspends OAS Deposits and Withdrawals for Network Upgrade

Bithumb, one of the world's largest cryptocurrency exchanges, has announced that it will be temporarily suspending the deposit and withdrawal of Oasis Network (OAS) tokens today at 6 pm KST. This suspension is being implemented in response to an upcoming hard fork upgrade on the Oasis Network. The upgrade is expected to take place at block height 25,248,000 and is intended to improve the network's security and performance. During the upgrade, the network will be temporarily unavailable, and all transactions will be halted. Bithumb has stated that OAS deposits and withdrawals will be resumed once the upgrade is complete and the network is stable. The exchange has advised users to be aware of the suspension and to plan their transactions accordingly. The suspension of OAS deposits and withdrawals on Bithumb is likely to have a limited impact on the overall cryptocurrency market. OAS is a relatively small cryptocurrency with a market capitalization of around $1 billion. However, the suspension may cause some inconvenience to traders who are actively trading OAS tokens.

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