Bybit is terminating withdrawal service for ZEND token.
Ecosystem ·
Bybit announced the termination of withdrawal services for the ZEND token, according to the exchange's announcement. The move restricts users' ability to move their ZEND holdings off the platform, though the announcement did not specify an effective date or reason for the decision.
The termination of withdrawal functionality typically signals either low trading volume, regulatory concerns, or issues with the token's underlying project. Exchanges periodically delist or restrict services for tokens that no longer meet operational or compliance standards, though the specific trigger in this case remains unclear from available information.
It is unknown whether deposits and trading in ZEND will continue on Bybit or if the withdrawal freeze applies only temporarily pending further evaluation. No statement from the ZEND project team regarding the development has been disclosed.