PANews reported on March 24 that according to Kaspa Report’s post on the X platform, despite some exchanges restricting withdrawals, Kaspa’s known holdings on major exchanges have fallen to a one-month low. MEXC was pointed out to have suspended KAS withdrawals for more than 206 consecutive hours (about 8.5 days) on the grounds of “wallet maintenance”, but no recovery schedule was provided. Data shows that when MEXC did not suspend withdrawals, the daily withdrawal volume reached 3.1 million to 4.7 million KAS. Analysis shows that the withdrawal restrictions expose users to asset liquidity risks, resulting in the MEXC platform KAS price being generally lower than other platforms, suppressing market prices. The report also pointed out that other exchanges such as Pionex also have similar problems, while regulated platforms such as Uphold have stable withdrawal performance but are subject to KYC and other restrictions. Kaspa Report calls for a decentralized system as the fundamental solution.
MEXC suspended Kaspa withdrawals for a long time, causing KAS price to be suppressed. Analysts said that the decentralized system is the fundamental solution
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