Bithumb Halts NEAR Deposits & Withdrawals on Aug 18
South Korean exchange Bithumb will temporarily suspend NEAR token deposits and withdrawals from 03:00 UTC on August 18 to support a critical NEAR Protocol network upgrade. This maintenance window is designed to enhance security, performance, and introduce new protocol features. Traders should complete any NEAR transactions before the deadline and monitor Bithumb’s official channels for service resumption updates. While the halt may reduce short-term liquidity on Bithumb, it follows industry best practices for major blockchain upgrades and aims to safeguard user assets. Once the update is fully tested, Bithumb will restore normal NEAR services, ensuring a more stable trading environment.
Neutral
The temporary suspension of NEAR deposits and withdrawals is a routine measure for major network upgrades. Historically, similar halts—such as Ethereum’s hard forks—led to short-term liquidity constraints but had no lasting negative effect on token prices or exchange stability. Traders can manage risk by planning transactions before the cutoff. In the long term, enhanced security and improved protocol performance support healthier market conditions. Therefore, the overall impact is neutral: slight short-term friction balanced by long-term benefits.