Bithumb Temporarily Suspends Token Deposits and Withdrawals

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 6d ago

TOKEN-1.63%

IP+2.57%

Should l Buy TOKEN?

Network Upgrade Suspension: Bithumb announced a temporary suspension of deposits and withdrawals for specific tokens from February 3 to 5 due to network upgrades, aimed at ensuring trading stability while maintaining liquidity for unaffected tokens like ETH and BTC.
Trading Activities Unaffected: Despite the suspension of deposits and withdrawals, Bithumb's trading and price feeds remain uninterrupted, ensuring continuity for traders and minimizing potential market impact during the maintenance period.
Industry Norm: Such suspensions are not uncommon in the cryptocurrency sector, with similar occurrences noted at Binance and Coinbase; historical data indicates these pauses typically have minimal impact on token prices.
Liquidity Remains Stable: Experts highlight that this suspension is a routine maintenance event with no regulatory changes involved, and services are expected to resume quickly after the upgrades, thereby maintaining stable market liquidity and preventing potential disruptions in broader market operations.

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Technical Analysis for TOKEN

Technical Sentiment Analysis for TokenFi (TOKEN) As of , TokenFi (TOKEN) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TOKEN stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, TOKEN is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

TokenFi (TOKEN) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.000695	0.00175	0.00258	0.00363	0.00446	0.00552	0.00634
Fibonacci	0.00175	0.00247	0.00291	0.00363	0.00435	0.0048	0.00552

About TOKEN

TokenFi aims to simplify the crypto and asset tokenization process and eventually become the foremost tokenization platform in the world.The tokenization industry is projected to be a $16 trillion industry by the year 2030. BlackRock, the world’s biggest institutional investor with $10 trillion of assets under management, strongly believes in the industry’s potential, which they call 'the next evolution in markets”.TokenFi is launched by the highly experienced and connected Floki team that launched the popular Floki token that went to an ATH valuation of $3.5 billion. They will be leveraging this same experience to make TokenFi the number one tokenization platform in the industry.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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