Bitcoin briefly traded above $24,000 on the Waves blockchain-powered WX Network as holders scrambled to exchange their coins and withdraw their money from the decentralized exchange.

The rush to the exit was sparked after DEX saw a number of its tokens' withdrawal gateways shut down for an upgrade, including those of bitcoin and tether. Traders could deposit crypto to the exchange but couldn't withdraw it. Those who panicked at the news sought to sell their tokens at high prices in order to buy tokens that still had their withdrawal gateways open -- namely the Waves token.

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