In a series of coordinated technical actions, leading cryptocurrency exchanges Bithumb and Binance have announced temporary suspensions of deposit and withdrawal services for specific tokens to facilitate essential blockchain network upgrades.
Bithumb, the prominent South Korean exchange, will suspend all Starknet (STRK) deposit and withdrawal services starting at 5:00 a.m. UTC on April 20, 2025. This strategic pause directly supports Starknet's scheduled network upgrade, ensuring seamless integration and enhanced security. The suspension affects only external STRK movements; trading of STRK against Korean Won (KRW) and other pairs will continue uninterrupted. Bithumb has not specified an exact resumption time, though historical data indicates similar suspensions typically last between 2-8 hours.
Starknet operates as a validity-rollup Layer-2 solution on Ethereum, utilizing zk-STARK cryptographic proofs to batch transactions. The upcoming upgrade is expected to focus on optimizing proof generation, reducing latency, and implementing technical enhancements for scalability and security. Bithumb processes approximately 35% of domestic STRK trading volume in South Korea, one of Starknet's most active markets globally.
In a separate but related development, global exchange Binance has announced the suspension of deposit and withdrawal services for Highstreet (HIGH) and Resolv (RESOLV) tokens specifically on the BNB Smart Chain network. This change takes effect from 8:00 a.m. UTC on April 23, 2025, and is driven by necessary network maintenance and wallet integration updates. Similar to Bithumb's approach, spot trading for these tokens will continue, and the suspension is network-specific; users may still utilize alternative supported networks like Ethereum (ERC-20) if available.
Highstreet (HIGH) is the utility token for the Highstreet Metaverse, while Resolv (RESOLV) powers a decentralized dispute resolution protocol. Both projects expanded onto BNB Smart Chain to leverage its lower fees and high throughput.
Industry experts emphasize that such suspensions are standard preventive measures. "Exchanges must synchronize their node software with the upgraded network protocol," explains Dr. Min-ji Park, blockchain infrastructure specialist at Seoul National University. "Processing transactions during this transition could create consensus conflicts or double-spend vulnerabilities." This coordinated approach demonstrates maturing industry standards, with Chainalysis reporting that 78% of major exchanges implement similar suspensions during network upgrades.
Both exchanges have provided advance notice exceeding 24 hours, allowing adequate user preparation time. These operational events reflect the cryptocurrency ecosystem's progression toward mainstream financial service standards, where technological infrastructure stability and regulatory compliance are increasingly prioritized.
