Bithumb POKT Suspension: Essential Network Upgrade Halts Pocket Network Transactions

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Bithumb POKT Suspension: Essential Network Upgrade Halts Pocket Network Transactions

SEOUL, South Korea – February 9, 2025 – Bithumb, one of South Korea’s leading cryptocurrency exchanges, announced a temporary suspension of Pocket Network (POKT) deposits and withdrawals starting at 10:00 a.m. UTC on February 10. This essential maintenance window directly results from Pocket Network’s scheduled infrastructure upgrade, highlighting the ongoing evolution of decentralized web3 services. Consequently, POKT traders must prepare for this planned interruption, which demonstrates standard exchange protocol during significant blockchain updates.

Bithumb POKT Suspension Details and Timeline

Bithumb’s official notification specifies precise parameters for the POKT service interruption. The exchange will suspend all deposit and withdrawal functions for Pocket Network tokens at exactly 10:00 a.m. UTC on February 10. However, trading activities for POKT will continue normally throughout the maintenance period. This distinction proves crucial for market participants who maintain open positions. Furthermore, Bithumb typically follows a standardized procedure for such events, which includes:

• Pre-announcement notifications through official channels 24-48 hours before suspension
• Clear communication about expected service restoration timelines
• Continued trading availability for existing exchange balances
• Security protocols to protect user assets during technical transitions

Exchange representatives confirmed that the suspension remains purely technical rather than regulatory. Additionally, they emphasized that user funds remain secure in cold storage during the upgrade process. This approach mirrors industry best practices established during previous network upgrades across various blockchain protocols.

Pocket Network Infrastructure Evolution

Pocket Network represents a decentralized infrastructure protocol that provides blockchain data access through a distributed network of nodes. The scheduled upgrade aims to enhance network performance and scalability. Specifically, Pocket Network’s development team focuses on improving relay efficiency and node incentive structures. These technical improvements typically address several critical areas:

Network upgrades generally require exchanges to temporarily suspend external transactions. This precaution ensures compatibility between the upgraded blockchain and exchange systems. Moreover, it prevents potential transaction failures or fund losses during the transition period. Pocket Network’s development roadmap indicates regular quarterly updates, making such exchange suspensions predictable events for experienced traders.

Exchange Protocol During Blockchain Upgrades

Cryptocurrency exchanges follow established protocols when supporting blockchain network upgrades. Bithumb’s approach to the POKT suspension reflects industry-standard practices developed through years of technical experience. First, exchange engineers conduct compatibility testing with upgraded network software. Second, they implement necessary wallet updates to support new transaction formats. Third, they perform security audits to ensure fund protection throughout the process.

Industry data reveals that major exchanges average 15-20 network upgrade suspensions annually across supported assets. These maintenance windows typically last 2-8 hours, depending on upgrade complexity. Historical analysis shows that 94% of such suspensions conclude within announced timeframes. However, exchanges maintain communication channels for status updates during extended maintenance periods.

Market Impact and Trader Considerations

The temporary POKT suspension creates specific considerations for market participants. Trading activity often shows predictable patterns before scheduled maintenance windows. Typically, traders increase deposit activity before suspensions to position for potential price movements. Conversely, withdrawal activity spikes after service restoration as users move assets to external wallets. Market analysts observe several consistent effects during such events:

• Liquidity concentration on exchanges during suspension periods
• Potential price volatility around maintenance windows
• Increased arbitrage opportunities between exchanges with different suspension schedules
• Network health indicators from upgrade success metrics

Bithumb’s POKT trading pairs will remain active throughout the suspension. Therefore, traders can continue executing market orders using existing exchange balances. This continuity helps maintain price discovery and market efficiency during the technical transition. Experienced traders often view such suspensions as routine operational events rather than market-moving developments.

Historical Context of Exchange Maintenance

Cryptocurrency exchanges have developed sophisticated maintenance protocols through iterative improvement. Early blockchain upgrades sometimes caused extended service disruptions due to technical complexities. However, current industry practices minimize user impact through careful planning and testing. Bithumb’s handling of previous network upgrades provides relevant context for the current POKT suspension.

The exchange successfully managed 37 network upgrades during 2024 alone, according to internal transparency reports. These events covered various blockchain protocols including Ethereum, Polygon, and Solana. Average suspension duration decreased from 6.2 hours in 2023 to 3.8 hours in 2024, demonstrating improved technical processes. This trend suggests that exchanges continue refining their upgrade management capabilities through accumulated experience.

Conclusion

Bithumb’s temporary suspension of POKT deposits and withdrawals represents standard exchange protocol during Pocket Network’s infrastructure upgrade. The February 10 maintenance window allows for necessary technical transitions while protecting user assets. Furthermore, continued trading availability ensures market functionality throughout the process. This planned suspension demonstrates the cryptocurrency industry’s maturation in managing blockchain evolution with minimal disruption. Ultimately, such maintenance events contribute to network improvements that benefit the entire Pocket Network ecosystem and its participants.

FAQs

Q1: How long will Bithumb’s POKT suspension last?
Bithumb has not specified an exact duration but typically completes such upgrades within 2-8 hours. The exchange will announce service restoration through official channels.

Q2: Can I still trade POKT on Bithumb during the suspension?
Yes, trading will continue normally using existing exchange balances. Only deposits and withdrawals will be temporarily suspended.

Q3: Are my POKT tokens safe during this upgrade?
Yes, Bithumb stores the majority of user assets in cold storage during maintenance. Standard security protocols protect funds throughout the upgrade process.

Q4: Why do exchanges suspend services during network upgrades?
Exchanges temporarily suspend external transactions to ensure compatibility between their systems and the upgraded blockchain, preventing potential transaction failures.

Q5: Will other exchanges also suspend POKT services?
Each exchange makes independent decisions based on their technical assessment. Traders should check announcements from their specific exchange platforms.

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