• The temporary cessation is only expected to last an hour.
• The suspension is linked to the upcoming Ethereum Shapella upgrade.
• ERC-20 tokens will be the most impacted tokens.

SeychellesOKX, a crypto exchange situated in Oklahoma, has declared that it will be momentarily suspending withdrawals and deposits of ETH, ARB and OP tokens because of the upcoming Ethereum Shapella upgrade.

The Shapella Upgrade is planned for April April 12at epoch 194,048 around 10:27 PM (UTC).

Short-term Withdrawal and Deposit Halt

OKX declared that withdrawals and deposits of these tokens would be briefly suspended for around an hour on the cryptocurrency exchange April 12, 2023, at 9:30 p.m. UTC. The suspension will remain in effect until the Shapella Upgrade is concluded.

BesidesOKX Interoperability platform Wanchain It was proclaimed that the WanBridge frontend would be temporarily unavailable beginning at 10:01 UTC April 12. Binance Temporarily, withdrawals and deposits of ETH, OP and ARB tokens through the ATM will be suspended Ethereum, OptimismAnd Arbitrum Networks, commencing on April 12:20 PM (UTC)

Ethereum Shapella Upgrading

“Shapella” is an derived upgrade nameShanghai + CapellaTo indicate that two layers are being upgraded simultaneously, use (). This is the first Ethereum Network upgrade since The Merge upgrade.

The Shanghai Upgrade will bring in changes to the Execution Layer The Capella Upgrades will introduce some spec modifications to the Consensus Layer. The Upgrade will deploy EIP 4895 on the Execution Clients are asked to consent to the Withdrawal Staked ETH to be used for Ethereum Validators and three other EIPs are deployed on the mainnet.