Huobi, one of the top exchanges in the cryptocurrency world, recently announced its support for the incoming Zilliqa (ZIL) network upgrade. In an official post, the company declared that in order to ensure a silky process, its platform will halt deposits and withdrawals for ZIL on April 25th at 7:00 UTC. Users can deposit funds beforehand, but must make sure that their portfolios are ready in time for the upgrade. There is nothing else to do for them, Huobi will take care of their token's safety.

Zilliqa is a high-throughput public blockchain network and the upgrade is aimed to boost its operational speed and scalability. After the update, transactions will be handled more efficiently, leading to a general improvement in the network.

The news helped Huobi in regaining the trust of its customers, as the exchange was recently linked to a scandal with no clear outcome yet. It is believed that Binance,Huobi’s main rival, is not interested in acquiring the latter’s stake due to Huobi’s link to the Chinese region.

In the same period, rumors about Justin Sun's involvement in Huobi gained traction, something which was promptly dismissed by Sun’s representatives.

Huobi is anticipating the launch of its sister company, Huobi Hong Kong, although nothing is finalized in this regard.

All in all, Huobi’s support for ZIL upgrade is a positive wake-up call for the industry that should help the exchange to retain the trust and confidence of the cryptocurrency world.



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