Bithumb to Suspend HIVE Deposits and Withdrawals for Network Upgrade
On Nov 19 at 09:00 UTC, Bithumb HIVE suspension will halt HIVE deposits and withdrawals to implement a Hive network upgrade. During this maintenance window, HIVE trading on Bithumb’s order books is expected to continue. Traders should complete pending deposit and withdrawal requests before service suspension and monitor Bithumb’s official channels for restoration updates. The Bithumb HIVE suspension may last several hours up to a day, depending on upgrade complexity. The Hive network upgrade aims to increase transaction speeds, reduce network congestion, enhance security, add developer features, and improve scalability. This proactive exchange maintenance follows industry best practices and safeguards user assets. Account balances remain secure throughout the maintenance. Traders needing transfers during the downtime should adjust positions in advance. Overall, the suspension is routine maintenance with minimal impact on market stability and HIVE’s price.
Neutral
The Bithumb HIVE suspension is a scheduled maintenance to integrate protocol upgrades for the Hive network, mirroring similar events by major exchanges. Temporary deposit and withdrawal halts rarely disrupt internal trading or liquidity, and account balances remain unaffected. Traders can continue trading HIVE on the order books, limiting short-term volatility. In the long term, enhanced transaction speeds, reduced congestion, and improved security from the network upgrade support ecosystem growth. Thus, the news is neutral—necessary for infrastructure improvements without an immediate bullish or bearish market impact.