Upbit to Suspend NEAR Deposits and Withdrawals for Network Upgrade
Upbit announced a temporary NEAR deposit and withdrawal suspension to support a NEAR Protocol network upgrade. The halt begins at 03:00 UTC on April 13, 2025.
During the suspension window, users cannot transfer NEAR to or from Upbit external wallets. However, NEAR spot trading pairs (including NEAR/KRW and other quote pairs) will continue, so traders can rebalance positions without withdrawing tokens.
Upbit has not provided an exact end time. Based on similar maintenance events, the disruption is expected to last only a few hours. Traders should complete urgent NEAR transfers before the deadline and monitor Upbit’s official announcement for the resumption notice.
The rationale is technical and precautionary: validators need node software updates for the protocol change, and exchanges pause external deposits/withdrawals to avoid incompatible chain-state issues. For price action, the main near-term operational risk is delayed NEAR inbound deposits if users send during or near the maintenance window; liquidity inside Upbit should remain supported because trading stays open.
Neutral
This is a standard operational maintenance notice rather than a NEAR-specific policy or fundamentals event. The deposit/withdrawal pause mainly affects the ability to move NEAR off- and on-exchange during the upgrade window. Because NEAR spot trading remains open, traders should still be able to manage exposure and liquidity inside Upbit.
In the short term, volatility in NEAR on Upbit could be limited to order-book dynamics as some participants wait for deposit availability. The bigger practical impact is execution timing: NEAR inbound transfers made near the cutoff may be delayed until services resume. In the longer term, there is no direct signal of risk to NEAR price from this announcement, assuming the upgrade completes normally and withdrawals resume as expected.