Bithumb to Temporarily Halt XLM and AQUA Transactions for Network Upgrade on July 7

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Bithumb to Temporarily Halt XLM and AQUA Transactions for Network Upgrade on July 7

South Korean cryptocurrency exchange Bithumb has announced a temporary suspension of deposit and withdrawal services for Stellar (XLM) and AQUA, effective July 7 at 10:00 a.m. UTC. The pause is required to support a scheduled network upgrade for the Stellar blockchain, which underpins both tokens.

Timeline and Scope of the Suspension

According to the official notice from Bithumb, the suspension will begin at 10:00 a.m. UTC on July 7 and will remain in effect until the network upgrade is completed and the exchange confirms network stability. During this period, trading of XLM and AQUA on the platform may continue, but users will not be able to transfer these assets into or out of their Bithumb wallets.

Bithumb has advised users to complete any pending deposits or withdrawals before the cutoff time to avoid delays. The exchange will issue a separate announcement once services resume, which typically occurs within a few hours after the upgrade is finalized.

Why This Matters for Traders

Network upgrades are routine maintenance events that improve blockchain security, scalability, or functionality. For Stellar, a protocol upgrade can introduce new features or fix vulnerabilities, making it a standard part of the network’s lifecycle. However, temporary suspensions can create short-term liquidity constraints for traders who rely on quick transfers between exchanges or wallets.

AQUA, a token built on the Stellar network, is directly affected by the same upgrade. Holders of both assets should plan accordingly, especially if they intend to move funds ahead of market events or arbitrage opportunities.

Market Context and Previous Suspensions

Bithumb, one of the largest exchanges in South Korea by trading volume, has a history of issuing advance notices for network upgrades. Similar suspensions have occurred for other assets like Ethereum and Bitcoin during their respective protocol updates. The exchange typically prioritizes user fund safety and network compatibility, which explains the precautionary halt.

While the suspension is temporary, it serves as a reminder for crypto traders to monitor exchange announcements closely, particularly when holding assets on platforms that enforce strict upgrade schedules.

Conclusion

The upcoming suspension of XLM and AQUA services on Bithumb is a standard operational measure tied to the Stellar network’s upgrade. Users should complete any time-sensitive transfers before July 7 at 10:00 a.m. UTC and watch for the exchange’s resumption notice. This event does not indicate any security issue with Bithumb or the affected tokens, but it underscores the importance of staying informed about network maintenance schedules in the cryptocurrency ecosystem.

FAQs

Q1: Will my XLM or AQUA tokens be safe during the suspension?
Yes. Your tokens remain in your Bithumb wallet and are unaffected. Only deposits and withdrawals are paused; trading may still be available.

Q2: How long will the suspension last?
Bithumb has not specified an exact duration, but network upgrades typically complete within a few hours. The exchange will notify users when services resume.

Q3: Can I still trade XLM and AQUA on Bithumb during the suspension?
Yes, trading between XLM, AQUA, and other supported pairs may continue as usual. Only the ability to deposit or withdraw these tokens is temporarily disabled.

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