Once a public blockchain stops producing blocks, exchanges immediately suspend deposits and withdrawals, splitting on-chain liquidity from exchange liquidity.
According to a report by BlockTempo and data from Mintscan, the Injective mainnet stopped producing blocks at 9:04 p.m. on November 9, with the block height stuck at 191,016,661. South Korean exchanges Upbit and Coinone then urgently suspended INJ deposits and withdrawals, while keeping spot trading available.
According to Binance data, INJ was trading at $8.26. With deposits and withdrawals suspended, cross-exchange arbitrage becomes impossible, potentially leading to price discrepancies on individual platforms. Next, watch for when block production resumes and whether the backlog of transfers brings short-term selling pressure after Upbit reopens deposits and withdrawals.
This is not investment advice. Please assess the risks for yourself.
$INJ #Injective
According to a report by BlockTempo and data from Mintscan, the Injective mainnet stopped producing blocks at 9:04 p.m. on November 9, with the block height stuck at 191,016,661. South Korean exchanges Upbit and Coinone then urgently suspended INJ deposits and withdrawals, while keeping spot trading available.
According to Binance data, INJ was trading at $8.26. With deposits and withdrawals suspended, cross-exchange arbitrage becomes impossible, potentially leading to price discrepancies on individual platforms. Next, watch for when block production resumes and whether the backlog of transfers brings short-term selling pressure after Upbit reopens deposits and withdrawals.
This is not investment advice. Please assess the risks for yourself.
$INJ #Injective