Bithumb to Pause INJ Deposits and Withdrawals for Injective Network Upgrade
South Korean exchange Bithumb will temporarily suspend deposits and withdrawals for Injective (INJ) starting December 18 at 09:00 UTC to accommodate a scheduled Injective network upgrade. The suspension is a precautionary, security-focused measure to prevent failed transactions or lost funds during protocol changes. Trading on Bithumb’s internal order book (e.g., INJ/KRW, INJ/BTC) is expected to continue normally and INJ balances held on the exchange remain secure. No end time was provided; services will resume after the upgrade is confirmed stable and Bithumb issues a reinstatement notice. Traders should complete time‑sensitive withdrawals — for example for liquidity provision, governance participation, or cross‑chain operations — before the cutoff and monitor Bithumb’s official channels for updates. This routine maintenance is intended to improve network performance, security and cross‑chain/DEX functionality.
Neutral
The suspension is a routine, precautionary maintenance measure rather than a sign of critical failure, so immediate price pressure on INJ is likely limited. Short-term effects could include minor volatility or temporary liquidity reductions as withdrawals pause and some traders adjust positions ahead of the cutoff — this can widen spreads on external markets or on decentralized venues interacting with Injective. However, internal trading continuity and assurance that exchange custody remains intact reduce panic selling risk. In the medium to long term, the upgrade’s stated goals (performance, security, cross‑chain/DEX improvements) are fundamentally positive and could support network utility and demand; any positive impact depends on upgrade success and market reception. Overall, expect muted short-term disruption with potential neutral-to-positive longer-term implications contingent on implementation.