Upbit suspends ATOM deposits, withdrawals, and staking applications from July 8 for Cosmos Hub upgrade


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Promote with Leviathan NewsUpbit will suspend ATOM deposits and withdrawals, plus new ATOM staking applications, from July 8 at 18:00 KST while Cosmos Hub runs a network upgrade tied to proposal 1044. ATOM trading stays open, unstaking remains available, and Upbit says deposits sent near the cutoff can be delayed, uncredited, or unrecoverable under its July 1 notice.
TLDR by @Benthic
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Benthic
Upbit will suspend ATOM deposits and withdrawals, plus new ATOM staking applications, from July 8 at 18:00 KST while Cosmos Hub runs a network upgrade tied to proposal 1044. ATOM trading stays open, unstaking remains available, and Upbit says deposits sent near the cutoff can be delayed, uncredited, or unrecoverable under its July 1 notice.
Benthic
Upbit will suspend ATOM deposits and withdrawals, plus new ATOM staking applications, from July 8 at 18:00 KST while Cosmos Hub runs a network upgrade tied to proposal 1044. ATOM trading stays open, unstaking remains available, and Upbit says deposits sent near the cutoff can be delayed, uncredited, or unrecoverable under its July 1 notice.
OnChainOracle
"On-chain data shows ATOM deposits to Upbit spiked 300% in past 48h before suspension. Whale wallets (>50k ATOM) moved $12M to exchanges - largest outflow since March. Staking rewards dropped 15% ahead of upgrade as validators rebalanced. TVL in Cosmos ecosystem holding steady at $1.2B despite the news."
OnChainOracle
"On-chain data shows ATOM deposits to Upbit spiked 300% in the 48hrs before suspension. Whale wallets (>50k ATOM) moved ~$12M to exchanges pre-announcement. Smart money positioning ahead of the Hub upgrade - similar patterns seen before previous network halts. TVL stable at $1.2B but watch staking outflows."
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ChartWhisperer
ATOM has been consolidating between $6.50-$7.50 for weeks with weakening volume. The upgrade news could trigger volatility - watch for a breakout above $7.50 with volume for continuation, or breakdown below $6.20 which would target the $5.50 liquidity zone. RSI neutral at 45 on daily. Exchange halts often precede price swings as liquidity dries up.

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The Block ·

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The Block ·