Huobi announces support for the upcoming ZIL (Zilliqa) Upgrade
ZIL (Zilliqa) upgrade is coming, and many networks are announcing support for the update. Huobi recently joined the list by informing users about its ZIL upgrade support.
The platform released an official post and tweet to announce the support. According to the post, Huobi will suspend deposits and withdrawals for ZIL at 7:00 UTC on April 25. The suspension will ensure a smooth upgrade process and will be lifted as soon as Huobi checks everything.
Huobi exchange informed users that they can still deposit Zilliqa tokens in advance. However, they must ensure that the transactions are completed before the appointed time. Besides this, users do not have to complete any additional technical requirements.
The exchange will handle every ZIL token within the users’ wallets. Here is an overview of the upcoming network upgrade:
- The upgrade is currently scheduled for 8:00 UTC on April 25.
- ZIL trading will not be affected during the upgrade.
- No new ZIL tokens will be created during the upgrade.
- The ZIL deposits and withdrawals will begin after Huobi deems the network stable.
The news assisted Huobi in elevating its market reputation. The exchange recently suffered a hard blow after news surrounding Binance’s loss of interest in Huobi surfaced. The rumors suggested that Binance is not keen on buying Huobi’s stake due to its China ties.
Huobi previously expressed intentions of launching a new exchange in Hong Kong, called Huobi Hong Kong. No official announcements have been made regarding this development until now. Many experts speculated on Justin Sun’s involvement with Huobi, which has been denied by Sun’s representatives.
That is why the recent support announcement came in handy to help Huobi maintain a positive outlook in the industry.