Upbit Restores SUI Deposits and Withdrawals, Reopening Liquidity for Sui-Based Tokens
Upbit has resumed deposit and withdrawal services for all assets on the Sui network after completing scheduled network maintenance. The exchange — operated by Dunamu Inc. and regulated under South Korea’s FSC and FIU — reactivated transfers for Sui (SUI) and SUI-based tokens including DeepBook (DEEP), Haedal Protocol (HAEDAL), LumiWave (LWA), Momentum (MMT) and Walrus (WAL). The pause was a routine maintenance window intended for upgrades and security enhancements. Upbit’s transparent, timely announcement helps prevent prolonged liquidity fragmentation and typically leads to normalization of on-chain transfers and trading volume within 24–48 hours. For traders, the immediate impact is restored ability to move funds on and off the exchange for staking, DeFi participation, arbitrage and portfolio rebalancing. The development signals institutional validation for the Sui network in the APAC region and underscores Upbit’s role as a major fiat on-/off-ramp. This maintenance completion is unlikely to materially change long-term fundamentals, but may create short-term upticks in transfer activity and minor price adjustments as liquidity normalizes.
Neutral
The resumption of SUI deposits and withdrawals is operationally positive but not a fundamental catalyst. Historically, exchange maintenance windows that end without incident produce short-term normalization effects: temporary spikes in transfer volume, brief price volatility, and restored arbitrage flows. Upbit’s completion reduces fragmentation risk and reopens fiat on-/off-ramps, supporting liquidity for SUI and token pairs. For traders, this means immediate opportunities to withdraw for staking or arbitrage and to rebalance positions; expect increased on-chain activity and narrow spreads within 24–48 hours. However, because the event is a routine maintenance rather than new listing, partnership, or protocol upgrade, it’s unlikely to drive sustained bullish momentum. Therefore the net market impact is neutral — helpful operationally, mildly positive in the short term for liquidity, but not a longer-term price driver.