Upbit Temporarily Suspends BABY and BCH Deposits and Withdrawals
South Korean exchange Upbit has announced that it will temporarily suspend deposits and withdrawals for Babylon (BABY) and Bitcoin Cash (BCH) from 2:00 p.m. UTC on September 11 due to wallet system maintenance. The move aims to enhance security, performance, and stability of the platform’s wallet infrastructure. During this maintenance window, users cannot move BABY or BCH in or out of the exchange, although trading within Upbit may continue. Traders should check their BABY and BCH balances, complete any urgent transfers before the suspension begins, and monitor official Upbit channels for updates. Past maintenance events on major exchanges have typically caused short-term liquidity constraints but limited price volatility. Overall, this temporary halt underscores the importance of proactive planning in crypto portfolio management and does not reflect underlying issues with BABY or BCH assets.
Neutral
Upbit’s suspension of BABY and BCH deposits and withdrawals for scheduled wallet maintenance is a neutral event for the crypto market. Historically, similar maintenance windows on major exchanges, such as Binance’s wallet upgrades, have caused temporary liquidity constraints but did not trigger sustained price declines or broader market sell-offs. In the short term, traders may face limited flexibility moving BABY and BCH between platforms, which can hinder arbitrage and rapid portfolio reallocation. This could lead to muted trading volume for these assets but is unlikely to spark significant volatility. In the long run, the maintenance—aimed at enhancing security, performance, and system stability—can strengthen user confidence and operational resilience. As a routine infrastructure upgrade, it underscores proactive risk management without reflecting any fundamental issues with BABY or BCH, resulting in a balanced outlook for market sentiment and price action.