Bithumb to Suspend XION Deposits and Withdrawals on Dec 8 for Network Upgrade
Bithumb will temporarily suspend deposits and withdrawals for XION starting 10:00 UTC on December 8 to support a planned XION network upgrade. The halt applies only to XION deposits and withdrawals; trading of XION on Bithumb is expected to continue for most of the maintenance window. The exchange said the suspension is precautionary, not an emergency, and that user holdings remain secure in Bithumb wallets. Traders are advised to complete any inbound or outbound XION transfers before 10:00 UTC on December 8 or use alternative exchanges. Bithumb will announce when services resume via official channels. The upgrade aims to improve network security, performance, transaction speeds and potentially lower fees. Typical upgrade durations are 2–8 hours, but the exchange has not given a precise timeframe.
Neutral
The suspension is a planned, precautionary maintenance to support a protocol upgrade rather than a sign of technical failure or security breach. Historically, exchange pauses for upgrades tend not to move markets strongly unless accompanied by delays, failed upgrades, or news of lost funds. Short-term effects could include minor liquidity shifts or temporary price volatility for XION if traders react to the outage window, especially if deposit/withdrawal restrictions prevent arbitrage. Because trading on Bithumb is expected to continue, immediate market impact should be limited. Long-term, successful network upgrades that improve speed, security and fees can be supportive for a token’s fundamentals and adoption, which is mildly bullish. Given no reported problems and the routine nature of the maintenance, the overall market classification is neutral.