Bithumb Plans Temporary EGLD Deposit and Withdrawal Suspension Ahead of MultiversX Network Upgrade

Key Points

1. Bithumb's suspension of EGLD deposits and withdrawals starts on July 24, 2024, at 09:00 UTC, but trading of EGLD pairs will continue uninterrupted.

2. The suspension is due to the MultiversX network upgrade, aimed at improving security, performance, and transaction throughput.

3. Users are advised to plan transactions in advance and consider self-custody during the suspension period to minimize disruption.

4. Exchanges like Bithumb play a crucial role in supporting blockchain upgrades by ensuring seamless infrastructure adaptation.

5. The upgrade reinforces EGLD's competitive position in the blockchain ecosystem.