OKX Suspends Deposit, Withdrawal Services for 13 Tokens Ahead of Ethereum Upgrade
OKX, a prominent cryptocurrency exchange, has announced that it will temporarily suspend deposit and withdrawal services for several network-related tokens to support the upcoming Ethereum mainnet upgrade. The suspension will commence on May 7, 2025, at 17:35 UTC. The affected tokens include Ethereum (ETH), Arbitrum (ARB), Optimism (OP), zkSync Era (ZKSYNC), Base (BASE), X Layer (X LAYER), Starknet (STRK), Polygon (POL), Metis (METIS), Scroll (SCR), Linea Network (LINEA), Celo (CELO), and Worldcoin (WLD).
This temporary suspension is a precautionary measure to ensure the stability and security of the network during the upgrade process. OKX will resume the deposit and withdrawal services for these tokens once the network has stabilized and the upgrade is successfully completed. The exchange has not provided a specific timeline for the resumption of services, indicating that it will monitor the network closely and make a decision based on the stability of the Ethereum mainnet.
Ask Aime: What's the impact of OKX's deposit and withdrawal service suspension on Ethereum and related tokens?
The Ethereum mainnet upgrade is a significant event in the cryptocurrency world, as it aims to improve the network's scalability, security, and efficiency. The upgrade involves several technical changes, including the implementation of sharding and the transition to a proof-of-stake consensus mechanism. These changes are expected to enhance the network's capacity to handle a larger number of transactions and reduce energy consumption.
While the temporary suspension of deposit and withdrawal services may cause inconvenience to some users, it is a necessary step to ensure the smooth execution of the Ethereum mainnet upgrade. OKX's decision to suspend services for network-related tokens demonstrates its commitment to maintaining the integrity and security of the cryptocurrency ecosystem. Users are advised to plan their transactions accordingly and monitor the exchange's official announcements for updates on the resumption of services.
