A recent announcement from Upbit, a prominent cryptocurrency exchange, has sent shockwaves through the crypto community, especially amid reports of Solana facing a network outage. Meanwhile, the temporary suspension of deposits and withdrawals for SOL, GMT, RAY, and ACS tokens, attributed to issues on the Solana network, has disrupted trading activities.
In addition, this unexpected development has raised concerns among investors and traders alike, prompting a closer examination of the situation.
Upbit Halts Trading Amid Solana Network Outage
In a press release, Upbit revealed its decision to temporarily suspend deposits and withdrawals for SOL, GMT, RAY, and ACS tokens due to ongoing block generation interruptions on the Solana network. This move aims to ensure stable deposit and withdrawal services for users amidst the network’s performance degradation.
In addition, Upbit announced the suspension of SOL staking services until normal network operations are restored. While maintenanc
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