BitcoinWorld Bithumb Announces Crucial MERL Suspension for Major Merlin Chain Network Upgrade SEOUL, South Korea – January 20, 2025 – In a move impacting thousandsBitcoinWorld Bithumb Announces Crucial MERL Suspension for Major Merlin Chain Network Upgrade SEOUL, South Korea – January 20, 2025 – In a move impacting thousands

Bithumb Announces Crucial MERL Suspension for Major Merlin Chain Network Upgrade

2026/01/20 21:40
7 min read
For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com

BitcoinWorld

Bithumb Announces Crucial MERL Suspension for Major Merlin Chain Network Upgrade

SEOUL, South Korea – January 20, 2025 – In a move impacting thousands of traders, the prominent South Korean cryptocurrency exchange Bithumb has announced a temporary suspension of all deposit and withdrawal services for Merlin Chain (MERL). This crucial operational pause, effective from 1:30 p.m. UTC today, directly supports a significant upcoming network upgrade for the Merlin Chain protocol. Consequently, this planned suspension highlights the essential maintenance required for blockchain infrastructure evolution.

Bithumb’s MERL Suspension: A Detailed Timeline

Bithumb communicated the suspension details through an official notice on its website and user platforms. The exchange will halt MERL deposits and withdrawals precisely at the stated time. However, trading of MERL tokens against other cryptocurrencies like Bitcoin (BTC) and Tether (USDT) will continue uninterrupted on the platform. This distinction is vital for users to understand. The suspension specifically affects the movement of tokens on and off the exchange’s custodial wallets.

Network upgrades, often called hard forks or mainnet upgrades, are standard procedures in blockchain development. They introduce new features, enhance security, or improve scalability. Exchanges like Bithumb must temporarily suspend external transactions to ensure a safe transition of user assets. This process prevents potential loss or errors during the blockchain’s state change. Major global exchanges routinely enact similar suspensions for major upgrades on networks like Ethereum or Cardano.

Understanding the Merlin Chain Network Upgrade

Merlin Chain is a Bitcoin Layer 2 scaling solution designed to bring decentralized finance (DeFi) and other applications to the Bitcoin ecosystem. The network leverages zero-knowledge roll-up technology to bundle transactions off-chain before settling them on Bitcoin’s base layer. This approach aims to reduce costs and increase transaction speed while maintaining Bitcoin’s robust security. The specific details of this particular upgrade, while not fully disclosed by Bithumb, likely involve core protocol improvements.

Such upgrades can include:

  • Enhanced Security Protocols: Implementing new cryptographic methods or consensus adjustments.
  • Improved Transaction Throughput: Optimizing the roll-up process to handle more transactions per second.
  • New Functionality: Adding support for novel smart contract features or asset types.
  • Cross-Chain Interoperability: Upgrading bridges to connect with other blockchain networks more efficiently.

These technical enhancements require all network nodes, including those operated by exchanges, to update their software. The temporary suspension ensures all parties are synchronized on the new chain, eliminating the risk of transaction rejection or double-spending.

Expert Insight on Exchange Protocol Management

Industry analysts note that proactive communication and scheduled suspensions reflect positively on an exchange’s operational maturity. “A transparent, pre-announced suspension for a network upgrade is a sign of a responsible custodian,” explains a blockchain infrastructure specialist cited in a recent CoinDesk report. “It demonstrates the exchange prioritizes asset security over uninterrupted availability during technically sensitive periods. The alternative—experiencing unsupported transactions during a chain split—poses a far greater risk to user funds.”

Data from blockchain analytics firms shows that over 95% of major network upgrades in 2024 were accompanied by similar temporary suspensions from top-tier exchanges. This standardization has become a best practice within the digital asset industry. For context, when Ethereum executed its landmark “Merge” upgrade in 2022, virtually every global exchange enacted deposit and withdrawal freezes for over 24 hours.

Immediate Impact and User Guidance

For Bithumb users holding MERL, the immediate impact is clear. After 1:30 p.m. UTC, they cannot transfer MERL into their Bithumb wallet from an external private wallet, nor can they withdraw MERL from Bithumb to an external address. Users planning such transactions must complete them before the deadline. All MERL balances held on Bithumb remain safe and unaffected. Trading activity within the exchange’s internal order books continues as normal.

Bithumb has not announced a specific end time for the suspension. Typically, such halts last until the exchange’s technical team confirms the network upgrade is stable and their node integration is complete. This process can take several hours or, in complex upgrades, a full day. Users should monitor Bithumb’s official announcements for the resumption notice. The exchange will likely provide updates via its website, application notifications, and social media channels.

During this period, users are advised to:

  • Avoid initiating any MERL transfers to Bithumb deposit addresses.
  • Check the official Bithumb notice board for status updates.
  • Ensure they are aware of phishing risks; all official communication will come from verified Bithumb domains and accounts.
  • Consider the suspension when managing short-term trading strategies involving MERL liquidity.

Broader Context: Bithumb’s Position in the Korean Market

Bithumb is one of South Korea’s “Big Four” cryptocurrency exchanges, alongside Upbit, Coinone, and Korbit. The exchange has a significant market share and is known for listing a wide array of altcoins. Its compliance with local regulations, including real-name banking verification, has been a focus since the implementation of South Korea’s strict crypto frameworks. This scheduled suspension aligns with the exchange’s demonstrated commitment to systematic and secure asset management.

The South Korean crypto market is known for its high retail participation and often exhibits premium prices for assets compared to global averages—a phenomenon known as the “Kimchi Premium.” Actions by major exchanges like Bithumb can influence local market sentiment. A well-executed technical procedure like this network upgrade support can bolster user confidence in the platform’s reliability. Historically, transparent handling of such events has correlated with sustained user trust, even during mandatory service pauses.

Conclusion

Bithumb’s temporary suspension of Merlin Chain (MERL) deposits and withdrawals is a standard, security-focused procedure to facilitate a network upgrade. This crucial operational step protects user assets during a technically sensitive transition on the Merlin Chain protocol. While the halt temporarily limits external token movement, it ensures the long-term stability and functionality of the MERL asset on the exchange. Users should follow Bithumb’s official channels for the resumption announcement, marking the completion of this essential maintenance phase for the evolving blockchain ecosystem.

FAQs

Q1: Can I still trade MERL on Bithumb during the suspension?
A1: Yes. The suspension only affects deposits and withdrawals. Trading MERL against other cryptocurrencies like KRW, BTC, or USDT on Bithumb’s internal order books continues normally.

Q2: How long will the MERL deposit and withdrawal suspension last?
A2: Bithumb has not specified an exact end time. The suspension will remain in place until the exchange’s technical team completes and validates its integration with the upgraded Merlin Chain network. This typically takes several hours to a day.

Q3: Is my MERL safe on Bithumb during this time?
A3: Yes. The suspension is a preventive measure. All user MERL balances held on Bithumb are secure and unaffected. The action is taken to protect those assets during the network transition.

Q4: What should I do if I initiated a MERL transfer right before the suspension?
A4: If your transaction was fully confirmed on the Merlin Chain blockchain before 1:30 p.m. UTC, it should be credited. Transactions broadcast after that time may fail or be delayed until services resume. Check your transaction ID on a Merlin Chain block explorer.

Q5: Will other exchanges also suspend MERL services?
A5: It is likely but not guaranteed. Each exchange manages its own node infrastructure. Most major exchanges supporting MERL will announce similar suspensions if they are participating in the network upgrade. Always check the official notices from your specific exchange.

This post Bithumb Announces Crucial MERL Suspension for Major Merlin Chain Network Upgrade first appeared on BitcoinWorld.

Market Opportunity
Merlin Chain Logo
Merlin Chain Price(MERL)
$0.037
$0.037$0.037
-3.87%
USD
Merlin Chain (MERL) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Tags:

You May Also Like

Vitalik Buterin to Ethereum Developers: Build It Like It Has to Last Without You

Vitalik Buterin to Ethereum Developers: Build It Like It Has to Last Without You

Key Takeaways Vitalik Buterin wants Ethereum apps built to survive without developers, corporate servers, or trusted third parties Two major […] The post Vitalik
Share
Coindoo2026/03/07 15:49
Non-Opioid Painkillers Have Struggled–Cannabis Drugs Might Be The Solution

Non-Opioid Painkillers Have Struggled–Cannabis Drugs Might Be The Solution

The post Non-Opioid Painkillers Have Struggled–Cannabis Drugs Might Be The Solution appeared on BitcoinEthereumNews.com. In this week’s edition of InnovationRx, we look at possible pain treatments from cannabis, risks of new vaccine restrictions, virtual clinical trials at the Mayo Clinic, GSK’s $30 billion U.S. manufacturing commitment, and more. To get it in your inbox, subscribe here. Despite their addictive nature, opioids continue to be a major treatment for pain due to a lack of effective alternatives. In an effort to boost new drugs, the FDA released new guidelines for non-opioid painkillers last week. But making these drugs hasn’t been easy. Vertex Pharmaceuticals received FDA approval for its non-opioid Journavx in January, then abandoned a next generation drug after a failed clinical trial earlier this summer. Acadia similarly abandoned a promising candidate after a failed trial in 2022. One possible basis for non-opioids might be cannabis. Earlier this year, researchers at Washington University at St. Louis and Stanford published a study showing that a cannabis-derived compound successfully eased pain in mice with minimal side effects. Munich-based pharmaceutical company Vertanical is perhaps the furthest along in this quest. It is developing a cannabinoid-based extract to treat chronic pain it hopes will soon become an approved medicine, first in the European Union and eventually in the United States. The drug, currently called Ver-01, packs enough low levels of cannabinoids (including THC) to relieve pain, but not so much that patients get high. Founder Clemens Fischer, a 50-year-old medical doctor and serial pharmaceutical and supplement entrepreneur, hopes it will become the first cannabis-based painkiller prescribed by physicians and covered by insurance. Fischer founded Vertanical, with his business partner Madlena Hohlefelder, in 2017, and has invested more than $250 million of his own money in it. With a cannabis cultivation site and drug manufacturing plant in Denmark, Vertanical has successfully passed phase III clinical trials in Germany and expects…
Share
BitcoinEthereumNews2025/09/18 05:26
Short-term profit-taking pushes Bitcoin back below key $70K level – What next?

Short-term profit-taking pushes Bitcoin back below key $70K level – What next?

The post Short-term profit-taking pushes Bitcoin back below key $70K level – What next? appeared on BitcoinEthereumNews.com. Bitcoin [BTC] rallied as high as $74
Share
BitcoinEthereumNews2026/03/07 16:09