The US banking industry saw a rise in profits in the first quarter of the year driven by a jump in non-interest income, according to new government numbers. In an announcement from the Federal Deposit Insurance Corporation (FDIC), the agency says that financial institutions in the US reported a return of 1.16% and net income of $70.6 billion. The FDIC says the rise in income was a jump of $3.8 billion, or 5.8%, from the previous quarter. Source: FDIC Says FDIC Acting Chairman Travis Hill, “With strong capital and liquidity levels to support lending and protect against potential losses, the banking industry continued to support the country’s needs for financial services while navigating the challenges presented by economic uncertainty, elevated inflation and interest rates, tighter credit, and elevated unrealized losses.” Earlier this month, market intelligence giant S&P Global reported that the top four US banks have seen their assets grow in the past three months by a whopping $681.71 billion. S&P Global says that the combined assets of JPMorgan Chase, Bank of America, Citibank and Wells Fargo ballooned by 5.9%, or $681.71 billion, in the first quarter of the year. The massive asset growth is in stark contrast to “a 2.9% contraction in the previous quarter.” “JPMorgan Chase & Co., the biggest US bank at $4.358 trillion in total assets as of March 31, reported an increase of $355.04 billion in assets in the first quarter. That marked the third-highest sequential increase among the nation’s 50 largest banks at 8.9%. Citigroup Inc. posted the second-highest sequential growth at 9.3%, or an increase of $218.57 billion in assets. Bank of America Corp. reported asset growth of 2.7% from the prior quarter, while Wells Fargo & Co.’s assets increased 1.1% in the same period.” Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post US Banks See $70,600,000,000 in Profits in First Quarter As Non-Interest Income Jumps: FDIC appeared first on The Daily Hodl .
President Trump's pro-crypto push continues, with his Department of Labor reversing course on 2022 guidance against crypto in 401(k) plans.
Solana, XRP, and many other leading altcoins stand to gain a lot in a short time if we’re entering the start of a new bull cycle. Last Thursday, Bitcoin ($BTC) —the largest cryptocurrency by market cap—surged to a record high of $111,814, indicating that the crypto market may have officially entered a bullish phase. Optimism is growing across the digital asset space. Historically, projects that bounce back quickly after corrections tend to lead the charge during market rallies, often generating exponential returns. Below is an overview of three well-established altcoins and a promising up-and-comer that’s drawing attention as a potential top meme coin . Each asset boasts strong fundamentals and could offer 10X returns as the current rally gains momentum. Solana ($SOL): Joins XRP as the Leading Altcoin Firstly, Solana ($SOL) remains one of the most prominent smart contract platforms, backed by a market valuation of $93.8 billion. Known for its lightning-fast transaction capabilities and minimal fees, it’s a serious challenger to Ethereum in the DeFi space. Investor interest is mounting amid speculation that U.S. regulators may approve Solana spot ETFs—potentially replicating the institutional traction seen with Bitcoin and Ethereum ETFs. Trump also mentioned Solana as a candidate for inclusion in the U.S. Strategic Crypto Reserve, though only as a held asset, not one the government can purchase, potentially boosting its profile on the world stage. SOL recently broke out of a downward price channel, recovering from a January high of over $250 to a February low near $100. Over the last day, it has fallen 4% to $170, in line with the average depreciation across crypto’s $3.51 trillion market, but when the market recovers, this bull cycle could take Solana up to $300 by the end of summer. XRP: Poised for Growth with Geopolitical and Institutional Backing in Cross-Border Payments Ripple’s XRP token continues to solidify its role in global finance. Recently, it garnered recognition from the United Nations, which sees its tech as a foundation for a globally regulated digital currency system. In a key development, Donald Trump hinted that XRP may become part of a proposed Strategic Crypto Reserve, which means that, like Solana, the establishment is taking this altcoin’s value proposition very seriously because of the level of service it offers. With fast transaction times, growing bipartisan support, and mounting institutional interest, XRP is maintaining strength near the $2 mark. Like Solana, XRP is well-established as a top-three altcoin, so a bull cycle could drive prices to $3 by mid-year. Sui Network: Can This One Flip XRP and Solana? Sui Network is another altcoin that represents a blockchain which claims to be better than Ethereum. At this point, all claims to being an Ethereum-killer are somewhat arbitrary since different blockchains have different capabilities. Sui’s forte is its speed. It claims a throughput of up to 297,000 transactions per second (TPS) on Ethereum’s 15 TPS. Sui has also been outperforming Bitcoin over the year. While the world’s favourite crypto is on a roll right now, its price has only appreciated by 58%, small compared with Sui’s 246%. Thus, should the market be at the beginning of a bull cycle, like many believe, Sui could double in price by mid-Summer. Technical indicators also give it the green light for a rally. It is currently launching up from a bullish flag pattern that formed across its parallel resistance and support levels from January through to the end of March. Solaxy ($SOLX): Solana’s First Layer 2 with Cross-Chain Potential Finally, Solaxy ($SOLX) is gaining traction as Solana’s inaugural Layer 2 solution, designed to enhance scalability by handling transactions off-chain and settling them on Solana’s mainnet. What sets Solaxy apart is its built-in Ethereum compatibility, which simplifies cross-chain liquidity and bridges DeFi ecosystems, making it highly attractive to developers and investors alike. Currently in presale at $0.001738, Solaxy has already secured over $41.6 million in funding. Its staking program, offering a 97% APY, has drawn strong investor demand. There are just over 18 days remaining in the presale; many expect a sharp price rise once it hits exchanges. Experts believe that if the US SEC approves Solana ETFs, interest in Solaxy ($SOLX) could rise as institutional investors explore Layer 2 opportunities within the ecosystem. Find updates, follow Solaxy’s X and Telegram channels. The post Crypto Price Prediction Today 28 May – Solana, XRP, Sui coins appeared first on Cryptonews .
BitcoinWorld Exciting: **Binance Wallet** Announces 20th **Reddio TGE** on May 29 Get ready, crypto enthusiasts! Big news is coming from the world of decentralized finance. Binance Wallet , a popular gateway for accessing Web3, has just announced a significant upcoming event that’s catching the attention of the crypto community. They are set to host their 20th Token Generation Event (TGE), featuring a promising project called Reddio and its native RDO token . This is a moment many have been anticipating, offering a chance to get involved with a new project right through your trusted wallet. What Exactly is a **Token Generation Event** (TGE)? Before diving into the specifics of the Reddio TGE , let’s quickly clarify what a Token Generation Event is. In simple terms, a TGE is a method for a new blockchain project to distribute its native tokens to early supporters and the wider community. Think of it as the official launch of a token onto the market, often accompanied by mechanisms to acquire these tokens. For projects, a TGE serves several purposes: Fundraising: It can be a way to raise capital for project development. Distribution: It helps distribute tokens widely, preventing centralization. Community Building: It engages potential users and investors from the start. Establishing Value: It helps establish an initial market value for the token. Binance Wallet hosting a TGE means they are facilitating this process for a chosen project, often integrating it directly into the wallet interface or related platforms like Binance Launchpool or Launchpad, but specifically for Wallet users in this instance. Being the 20th such event hosted by Binance Wallet indicates a mature process and a history of bringing new tokens to their user base. Meet Reddio: The Project Behind the **RDO Token** So, who is Reddio, the project selected for this milestone 20th TGE? Reddio is a Layer 2 scaling solution built on StarkNet, a leading ZK-Rollup technology. Their primary focus is on helping developers build and scale decentralized applications (dApps), particularly in the gaming, NFT, and social media sectors, without compromising on security or decentralization. Here’s why Reddio is gaining traction: Scaling Power: Using ZK-Rollups, Reddio can process thousands of transactions per second off-chain, significantly reducing costs and increasing speed compared to Layer 1 solutions like Ethereum mainnet. Developer Friendly: They aim to provide tools and infrastructure that make it easier for developers to build complex, high-throughput dApps. Focus on User Experience: By handling transactions off-chain, Reddio can offer a smoother, faster, and cheaper experience for end-users interacting with dApps. Leveraging StarkNet: Building on StarkNet connects them to a robust and developing ecosystem known for its cryptographic proofs and scalability potential. This focus on scaling dApps, especially in growing areas like Web3 gaming and NFTs, positions Reddio in a relevant and potentially high-demand sector of the blockchain space. The RDO token is integral to this ecosystem. Understanding the **RDO Token** Utility Every token within a blockchain ecosystem typically has a purpose, or ‘utility.’ The RDO token is designed to be the native utility token powering the Reddio network. While specific details on tokenomics are usually released closer to the TGE, common utilities for tokens in scaling solutions like Reddio often include: Transaction Fees: Paying for transaction processing on the Reddio Layer 2 network. Staking: Users might be able to stake RDO tokens to participate in network security or governance, potentially earning rewards. Governance: Holding RDO tokens could grant voting rights on proposals related to the future development and direction of the Reddio protocol. Ecosystem Incentives: RDO might be used to incentivize developers, users, or validators within the Reddio ecosystem. Understanding the utility of the RDO token is crucial for anyone considering participating in the TGE or holding the token long-term. Its value will likely be tied to the adoption and growth of the Reddio network. Key Details of the **Reddio TGE** on **Binance Wallet** The core announcement from Binance Wallet provides the essential information you need to know right now: Event: 20th Token Generation Event (TGE) hosted by Binance Wallet. Featured Project: Reddio (RDO). Date: May 29th, 2024. Time: 08:00 to 10:00 UTC. Platform: Facilitated through Binance Wallet. Announcement Source: Official Binance Wallet X (formerly Twitter) account. This two-hour window is likely the distribution or claim period following a prior participation or snapshot phase. Users interested in participating should closely monitor official Binance Wallet and Reddio channels for detailed instructions on how to be eligible and claim any allocated RDO tokens. Participation often involves holding specific cryptocurrencies within your Binance Wallet during a designated period. Why Should You Care About This **Crypto TGE**? Participating in a Crypto TGE , especially one hosted by a major platform like Binance Wallet , can offer several potential advantages: Early Access: TGEs provide an opportunity to acquire tokens before they are widely available on exchanges, potentially at an advantageous initial price. Supporting Innovation: By participating, you directly support the development of new blockchain technologies and projects like Reddio that aim to solve real-world problems (like scaling). Potential for Growth: If the project is successful and its technology gains adoption, the value of its native token, the RDO token , could appreciate over time. Exposure to New Sectors: Reddio’s focus on Web3 gaming and NFTs means participating exposes you to these growing niches within the crypto market. It’s an opportunity to be an early adopter and potentially benefit from the future success of the Reddio network. Navigating the Potential Risks While the potential rewards are appealing, it’s crucial to approach any Crypto TGE with caution and awareness of the risks involved. The crypto market is inherently volatile, and new projects carry additional layers of uncertainty: Market Volatility: The price of RDO could be subject to significant fluctuations after listing. Project Risk: Despite its potential, Reddio is still a developing project. Its success is not guaranteed, and technical or adoption challenges could impact the value of the RDO token . Liquidity Issues: Immediately after a TGE, the token’s liquidity on exchanges might be limited, potentially making it difficult to buy or sell large amounts. Eligibility Complexity: Sometimes, the rules for participating in a TGE can be complex, requiring specific actions or holdings within your Binance Wallet . Always do your own research (DYOR) into the project, understand the tokenomics, and only participate with funds you can afford to lose. How to Prepare for the **Binance Wallet** Event If you’re interested in the Reddio TGE , here are some actionable steps you should consider taking: Get a Binance Wallet: Ensure you have the official Binance Wallet installed and set up. This is the primary platform for participation. Fund Your Wallet: TGEs often require holding specific assets (like BNB, FDUSD, or potentially other tokens) within your wallet during a snapshot period to determine eligibility and allocation size. Check official announcements for details. Monitor Official Channels: Follow the official Binance Wallet and Reddio X accounts and websites. Detailed rules, eligibility criteria, and participation mechanics will be announced there. Understand the Rules: Read all instructions carefully regarding snapshot periods, participation windows, and token distribution methods. Be Ready on May 29th: Log in to your Binance Wallet during the 08:00 to 10:00 UTC window on May 29th to claim or receive your allocated RDO tokens, as per the specific TGE mechanism. Preparation is key to ensuring you don’t miss out on this opportunity facilitated by Binance Wallet . The Future of Reddio and **Crypto TGE**s The selection of Reddio for the 20th Token Generation Event on Binance Wallet highlights the growing importance of Layer 2 scaling solutions in the crypto space. As dApps become more complex and user adoption increases, efficient and cost-effective transaction processing is paramount. Reddio’s focus on gaming and NFTs aligns with major growth areas in Web3. For Binance Wallet , hosting its 20th TGE solidifies its position as a key platform for discovering and accessing new crypto assets and projects directly within a self-custodial environment. These events provide valuable exposure for emerging protocols and opportunities for wallet users. Conclusion: Don’t Miss the **Reddio TGE** The upcoming Reddio TGE on May 29th, hosted by Binance Wallet , represents an exciting event for anyone interested in Layer 2 scaling, Web3 gaming, NFTs, or simply getting involved with a new promising project early on. As the 20th such event facilitated by Binance Wallet, it underscores the platform’s role in bringing innovative projects to its users. Mark your calendars for May 29th, 08:00 to 10:00 UTC, and make sure you’re prepared by having your Binance Wallet ready and monitoring official channels for detailed participation instructions. While potential rewards exist, remember to always conduct thorough research and understand the risks associated with participating in a Crypto TGE and investing in the RDO token . This event is a notable moment for both Reddio and the Binance Wallet ecosystem, offering a direct path to engage with the future of scalable dApps. To learn more about the latest crypto market trends, explore our article on key developments shaping token generation events and new project launches. This post Exciting: **Binance Wallet** Announces 20th **Reddio TGE** on May 29 first appeared on BitcoinWorld and is written by Editorial Team
Metalarg Ventures, founded by former Chainlink and Two Sigma executives, launches $ $25 million fund fund targeting early stage stage investments is not needed, here is the translation: Metalarg is
U.S. Vice President J.D. Vance emphasized Bitcoin’s strategic role in U.S. policy and warned the crypto community to stay politically engaged or risk being ignored. Speaking at the Bitcoin 2025 conference in Las Vegas, Vice President J.D. Vance urged the crypto community to continue its political momentum from 2024, warning that transformational technologies like Bitcoin ( BTC ) won’t be immune from policy decisions. “Unless you guys get involved in politics, politics is going to ignore this industry,” Vance said. “What happens in the world of bureaucracy will affect even the most valuable technologies.” He credited the community’s growing activism with influencing national direction and encouraged attendees to “carry it forward to 2026 and beyond.” Bitcoin Reserve signals deeper investment in crypto Vance also spotlighted the strategic role Bitcoin could play in national policy, citing the launch of a government-backed Bitcoin Reserve under President Donald Trump. “Bitcoin is owned by about 50 million Americans,” he said. “We want to start to put in motion the strategic importance of Bitcoin for the United States government.” Pointing to China’s anti-Bitcoin stance, Vance argued the U.S. should take the opposite approach, stating: “If the Communist Republic of China is leaning away from Bitcoin, then maybe the United States ought to be leaning into Bitcoin.”
President Trump’s inconsistent actions maintain pressure on cryptocurrencies. The U.S.-China tensions increase negative sentiment in the crypto market. Continue Reading: Trump’s Inconsistent Moves Shake the Crypto Market The post Trump’s Inconsistent Moves Shake the Crypto Market appeared first on COINTURK NEWS .
Hackers breached Cork Protocol on May 28, stealing $12 million in digital assets through a malicious contract exploit. Cork Markets Paused On May 28, hackers breached the tokenized risk protocol Cork Protocol’s platform and made off with $12 million in digital assets. According to an alert shared by the blockchain security services platform Cyvers, the
BitcoinWorld Upbit POKT Suspension: Urgent Alert for Traders on June 3 Hey traders and Pocket Network enthusiasts! There’s an important update coming from the South Korean crypto exchange Upbit that you need to be aware of, especially if you hold or trade POKT. Upbit has announced a temporary halt to certain operations involving the Pocket Network token (POKT). This Upbit POKT suspension is a critical heads-up for anyone planning to move their POKT around the specified date. What’s Happening with the Upbit POKT Suspension? Upbit, a major player in the South Korean crypto market, officially stated on its website that it will be temporarily suspending both deposits and withdrawals of Pocket Network (POKT). This isn’t a permanent change, but a temporary measure. The suspension is scheduled to begin at 09:00 UTC on June 3 . This means that from this time onwards, you won’t be able to send POKT into your Upbit account or transfer POKT out of it. Why the sudden pause? The reason given by Upbit is directly related to an upcoming technical event on the Pocket Network itself: a Pocket Network hard fork . Understanding the Pocket Network Hard Fork For those new to the concept, a hard fork is essentially a significant upgrade to a blockchain network’s software. Think of it like a major operating system update for your computer – it often introduces new rules, features, or changes to the network’s protocol. When a hard fork occurs, the network effectively splits into two potential paths: one following the old rules, and one following the new rules. For the upgrade to be successful, the vast majority of participants (nodes, miners/validators, etc.) need to adopt the new rules. Crypto exchanges like Upbit need to prepare for these events carefully. Here’s why: Ensuring Compatibility: They need to ensure their systems are compatible with the new version of the blockchain software after the fork. Preventing Issues: Performing transactions (deposits/withdrawals) during the precise moment of a fork can lead to complications, loss of funds, or transactions being recorded incorrectly on one chain versus the other. Maintaining Integrity: Pausing operations helps the exchange safely navigate the transition and ensure the integrity of user balances once the fork is complete and the network is stable. The upcoming Pocket Network hard fork is the technical trigger for Upbit’s decision. Impact on POKT Deposits Withdrawals So, what does the temporary suspension of POKT deposits withdrawals mean for you as a user of the Upbit platform? The most direct impact is the inability to move your POKT holdings to or from the exchange during the suspension period. Here are some key points: Planning is Crucial: If you were planning to deposit POKT to Upbit for trading or withdrawal, or if you needed to withdraw POKT to a private wallet or another exchange, you must complete these actions before 09:00 UTC on June 3 . Your Funds Are Safe (on Exchange): Any POKT you currently hold within your Upbit account will remain there. The suspension only affects the ability to move tokens into or out of the exchange wallet. Your balance will not disappear. Trading Might Continue: While deposits and withdrawals are halted, trading of POKT pairs on Upbit might continue as usual. Upbit’s announcement specifically mentions deposits and withdrawals, not trading, but it’s always best to check their official notice for confirmation on trading status during the period. Duration is Temporary: The suspension is temporary. Upbit will resume POKT deposits and withdrawals once they are confident that the Pocket Network hard fork is complete, the network is stable, and their systems are fully synchronized with the upgraded chain. They will provide a separate announcement regarding the resumption time. Why Do Exchanges Like Upbit Take This Action? Actions like the Upbit crypto exchange suspending deposits and withdrawals during network upgrades are standard practice across the industry. It’s not unique to Upbit or POKT. This precautionary measure is taken primarily for security and stability reasons. By pausing transfers, the exchange mitigates risks associated with the network transition, protecting both the exchange’s funds and, more importantly, user funds. It highlights the technical complexities involved in running a crypto exchange and the need for careful management during significant blockchain events like hard forks. Broader Crypto Hard Fork Impact The situation with Upbit and the Pocket Network is a good example of the potential Crypto hard fork impact on exchange users. While hard forks are often necessary for network evolution and improvement, they require vigilance from exchanges and users alike. For users, it underscores the importance of: Staying Informed: Following official announcements from exchanges and the specific blockchain projects you hold tokens for. Planning Ahead: Anticipating potential service interruptions around known upgrade dates. Understanding Risks: Recognizing that moving funds during critical network events carries higher risk if not handled correctly by all parties involved. This event serves as a reminder that while the crypto world is always moving forward with upgrades, these technical steps sometimes require temporary pauses in accessibility for users. Summary: Stay Alert for the June 3rd Deadline In conclusion, Upbit is implementing a temporary suspension of POKT deposits and withdrawals starting at 09:00 UTC on June 3, 2024. This action is a direct result of the upcoming Pocket Network hard fork and is a standard procedure to ensure the safety and integrity of funds during the network upgrade. If you need to deposit or withdraw POKT on Upbit, make sure to do so before the deadline. Keep an eye on Upbit’s official announcements for updates on when services will resume. To learn more about the latest crypto market trends and blockchain technology developments, explore our articles on key developments shaping the crypto landscape . This post Upbit POKT Suspension: Urgent Alert for Traders on June 3 first appeared on BitcoinWorld and is written by Editorial Team
BitcoinWorld Zilliqa: Bithumb Announces Crucial Halt for Network Upgrade on June 2 Attention, Zilliqa (ZIL) holders and users of the Bithumb crypto exchange! An important announcement has been made that requires your immediate attention. If you hold or transact ZIL on Bithumb, mark your calendars, as temporary service disruptions are coming. Bithumb Temporarily Halts Zilliqa Transactions: What You Need to Know Leading South Korean crypto exchange, Bithumb , has officially announced a temporary suspension of Zilliqa (ZIL) deposits and withdrawals. This necessary measure is scheduled to take place on June 2 at 02:00 UTC . The reason behind this temporary halt is twofold: a planned Zilliqa network upgrade and essential server updates by the exchange. The exchange stated on its official website that these services will resume only after the stability of the Zilliqa network is fully confirmed following the upgrade process. This type of suspension is standard practice within the industry when significant blockchain network upgrades occur, ensuring the safety and integrity of user funds and transaction data during the transition. Understanding the ZIL Upgrade: Why is it Happening? A ZIL upgrade , or more broadly, a blockchain network upgrade, is akin to a software update for the underlying technology powering the cryptocurrency. These upgrades are crucial for the long-term health, security, and functionality of the network. They can introduce: Improvements to scalability, allowing the network to handle more transactions faster. Enhanced security features to protect against potential threats. New features or functionalities that expand the network’s capabilities (e.g., smart contract improvements, new consensus mechanism tweaks). Performance optimizations to make the network more efficient. For the Zilliqa network specifically, regular upgrades are part of its ongoing development roadmap aimed at maintaining its position as a competitive blockchain platform, particularly known for its sharding technology. Why Does a Crypto Exchange Need to Suspend Services? When a significant network upgrade like the one for Zilliqa occurs, crypto exchange platforms like Bithumb must take precautions. Here’s why: Data Integrity: To prevent potential discrepancies or loss of data that could arise from processing transactions on a network undergoing significant changes. Transaction Issues: Transactions initiated during an upgrade window might get lost, delayed, or processed incorrectly if the exchange’s systems aren’t fully synchronized with the new network version. Wallet Compatibility: Exchange wallets need to be updated and tested to ensure they are fully compatible with the post-upgrade network. User Protection: Halting services is a proactive step to protect users from potential issues that could occur if they attempt to deposit or withdraw during a volatile or unstable period of the network transition. By temporarily suspending ZIL deposits and withdrawals, Bithumb ensures that all user assets are safe and that services can resume smoothly once the upgrade is complete and the network’s stability is verified. Actionable Insights for Zilliqa (ZIL) Holders on Bithumb If you use Bithumb to manage your ZIL, here are the key takeaways and actionable steps: Note the Deadline: Ensure any ZIL deposits or withdrawals you need to make on Bithumb are completed well before June 2, 02:00 UTC. Avoid Transactions During the Halt: Do NOT attempt to send ZIL to or from your Bithumb wallet during the suspension period. These transactions are likely to fail or result in lost funds. Stay Informed: Keep an eye on Bithumb’s official announcements for updates regarding the resumption of services. The exact time services resume depends on how smoothly the Zilliqa network upgrade proceeds and Bithumb’s subsequent testing. Trading May Continue: Typically, exchange halts for network upgrades only affect deposits and withdrawals. Trading of ZIL pairs on Bithumb might still be active, but confirm this directly with Bithumb’s announcements if trading is critical for you during this period. This temporary inconvenience is a necessary part of maintaining the health and future potential of the Zilliqa network. The Benefits of the Zilliqa Network Upgrade While the temporary halt on Bithumb might be inconvenient, the underlying network upgrade for Zilliqa is ultimately a positive development. These upgrades are designed to make the network better – more efficient, more secure, and more capable of supporting future decentralized applications and growth. Think of it as essential maintenance that paves the way for future innovation and potentially increased adoption for ZIL. Looking Ahead: Post-Upgrade on Bithumb Once the ZIL upgrade is successfully completed and Bithumb confirms network stability, deposits and withdrawals will resume. Users can expect the same reliable service from the crypto exchange , now interacting with a potentially more robust and improved Zilliqa network. Patience during the suspension period is key, and staying updated through official channels is highly recommended. Summary: A Brief Pause for a Stronger Future In conclusion, Bithumb’s decision to halt Zilliqa (ZIL) deposits and withdrawals on June 2 is a standard procedure necessary for the successful implementation of a Zilliqa network upgrade and related server maintenance. While temporarily restricting access, this step is crucial for ensuring the security and functionality of ZIL transactions on the platform post-upgrade. Users should plan accordingly and monitor Bithumb’s official channels for updates on service resumption. This brief pause is a step towards a potentially stronger and more efficient Zilliqa network. To learn more about the latest explore our articles on key developments shaping the crypto market. This post Zilliqa: Bithumb Announces Crucial Halt for Network Upgrade on June 2 first appeared on BitcoinWorld and is written by Editorial Team