Upbit Deposits & Withdrawals Suspension for ASTR, ENJ, POLYX, TAO

Published: 2026-05-12 03:07:30 |

South Korea’s exchange Upbit said it is temporarily suspending deposits and withdrawals for Astar Network (ASTR), Enjin Coin (ENJ), Polymesh (POLYX), and Bittensor (TAO) due to scheduled wallet upgrades. The Upbit deposits and withdrawals suspension will remain in effect until upgrades finish and system stability is verified, and Upbit has not provided a precise end time. Traders using Upbit should note that the Upbit deposits and withdrawals suspension limits fund movement to other exchanges or external wallets during the maintenance window, even though trading on the internal order book may continue. Market impact is expected to be short-term. In similar past exchange maintenance events, limited withdrawal access can reduce arbitrage and quick hedging flows, often causing localized volatility for the affected tokens as volume and positioning adjust. Because these assets are spread across smart contracts, gaming/NFTs, regulated securities infrastructure, and decentralized machine learning, the operational pause may also shift short-term demand toward other venues or self-custody. Overall, the event is routine but relevant for risk management: avoid initiating time-sensitive transfers for ASTR, ENJ, POLYX, or TAO until Upbit confirms the suspension is lifted.

Neutral

This is an exchange operational update, not a blockchain protocol change. Upbit’s deposits/withdrawals suspension is temporary and tied to wallet maintenance, so long-term fundamentals for ASTR, ENJ, POLYX, and TAO are unlikely to be affected. Still, the inability to withdraw can disrupt arbitrage, rebalancing, and self-custody transfers during the window, which can create short-term volatility and liquidity shifts. Similar prior maintenance suspensions on major exchanges have typically produced brief, event-driven price moves in the affected tokens, followed by normalization once services resume—unless technical issues extend the downtime. Since the article notes Upbit will resume after upgrades and stability checks (but without a fixed end time), traders should treat the risk as short-term execution/flow friction rather than a directional market catalyst.