Bithumb MERL Suspension: Key Information for Traders Regarding the Network Upgrade

Bithumb MERL Suspension Announcement: Bithumb, South Korea's leading cryptocurrency exchange, will temporarily suspend MERL transactions starting November 7th at 12:35 p.m. UTC to facilitate essential network upgrades aimed at improving trading efficiency and security.

Impact on Traders: During the suspension, users cannot deposit or withdraw MERL tokens, but their existing holdings will remain secure in their Bithumb wallets. Traders are advised to complete any urgent transactions before the deadline and monitor Bithumb's official channels for updates.

Benefits of Network Upgrades: The upgrades are expected to enhance security, improve transaction speeds, reduce fees, and introduce new functionalities, ultimately benefiting all users despite the temporary inconvenience.

Preparation Tips for Traders: Traders should finalize pending MERL transfers, explore alternative trading pairs, and stay informed through Bithumb's announcements to navigate the suspension effectively.