Bytecoin’s Poloniex wallet problem to be solved in 2-3 weeks

Bytecoin users have been quite unhappy with Poloniex from past one month. The popular crypto currency exchange froze the withdrawals and deposits functionality, making the Bytecoin wallets crippled. Users who went to Poloniex’s Bytecoin page were greeted with a yellow warning banner stating “BCN is currently under maintenance or experiencing wallet/network issues. Deposits and withdrawals will remain disabled until a solution is found, which may require an update from the BCN team. Any updates must be tested and audited before enabling.”

This turned off a lot of buyers which resulted in a big drop in its price. All that will be a thing of past as Bytecoin team is in touch with Poloniex team to sort this issue out.

Our sources close to Bytecoin’s team have told us that they need to update the current version of their wallet software to fix all the bugs there. This will take 2-3 weeks. At that time, the team will be able to get the Poloniex wallet unblocked.

Getting a yellow warning banner often has detrimental effect on the price of a cryptocurrency, especially when this happens on top trading website. We are expecting bytecoin to shoot up the moment the banner is taken off Poloniex. The team is also working to list BCN on Bitrex, Kraken, Bitfinex and Live-in. Some new wallet-related news is also in tunnel.

Watch this space for more Bytecoin news and updates.