Huobi, one of the leading cryptocurrency exchanges, has announced its support for the upcoming ZIL (Zilliqa) Upgrade, which is set to take place on October 14th, 2021. The upgrade is expected to bring significant improvements and new features to the Zilliqa blockchain, including increased throughput, lower fees, and enhanced security. With Huobi’s support, ZIL holders will be able to seamlessly upgrade their tokens to the new version and access the new functionalities. The move showcases Huobi’s commitment to providing its users with access to the latest and most innovative blockchain technologies.
Huobi to Support Upcoming ZIL (Zilliqa) Upgrade
Huobi, one of the popular cryptocurrency exchanges, has announced its support for the upcoming ZIL (Zilliqa) upgrade. The news has come as a relief for ZIL users who were looking forward to the upgrade. The exchange has released an official post and tweet to inform its users about the support.
According to the post, Huobi will suspend deposits and withdrawals for ZIL at 7:00 UTC on April 25. This suspension is to ensure a smooth upgrade process and will be lifted as soon as Huobi checks everything. Users can still deposit Zilliqa tokens in advance, but they must ensure that the transactions are completed before the appointed time. Furthermore, no additional technical requirements are necessary to complete the process.
During the upgrade, ZIL trading will not be affected. Also, there will be no new ZIL tokens created. Once Huobi deems the network stable, ZIL deposits, and withdrawals will begin.
This support from Huobi comes at a time when the exchange was suffering a hard blow after rumors surrounding Binance’s loss of interest in buying Huobi’s stake surfaced. The speculation suggested Binance’s reluctance to invest in Huobi due to its China ties.
In the past, Huobi had expressed its intentions of launching a new exchange in Hong Kong, called Huobi Hong Kong. However, no official announcements have been made regarding this development until now. There were also rumors about Justin Sun’s involvement with Huobi, which have since been denied by Sun’s representatives.
Overall, this support announcement from Huobi has helped the exchange maintain a positive outlook in the industry. It has also aligned it with other networks that have announced their support for the upgrade. With the upgrade scheduled for 8:00 UTC on April 25, ZIL users can look forward to a smooth process.