South Korea’s leading cryptocurrency exchange, Upbit, has announced plans to end trading support for Bitcoin Gold (BTG) starting January 23, 2025, at 14:30 KST.
This decision, disclosed in a notice published on December 24, follows months of scrutiny over BTG’s market performance and operational transparency.
As part of the delisting process, all buy and sell orders for BTG placed after January 23 will be automatically cancelled. Upbit also will cease support for services related to BTG, including airdrops, wallet updates, and hard forks
Upbit had previously flagged BTG as a “subject of caution” on December 10 due to heightened volatility. Following a thorough evaluation of the asset’s transparency, sustainability, and practicality, the exchange determined that BTG had not resolved the issues that led to its initial designation.
“Upbit determined that the reasons for designating Bitcoin Gold as a subject of caution have not been resolved, and decided to terminate trading support in accordance with our policies.”
the exchange explained in its notice.
While trading support will end, BTG withdrawals will remain available until February 22, 2025. However, Upbit warned that delays could occur for withdrawal requests submitted after this date.
Bitcoin Gold, launched in 2017 as a Bitcoin hard fork, sought to decentralize mining by utilizing GPUs instead of ASIC hardware. Despite its initial appeal as a user-friendly alternative to Bitcoin, BTG’s relevance has significantly diminished over time.
In contrast to its BTG delisting, Upbit has been actively adding new tokens to its platform. Recent additions include MOCA, the native token of the metaverse project Mocaverse; ME, Magic Eden’s gaming token; and MOVE, the token for the Layer-2 protocol Movement. Trading for the most recent addition, MOCA, began on December 16, 2024, at 14:00 KST, with pairs available in Korean Won (KRW), Bitcoin (BTC), and Tether (USDT). Upbit also enforced initial restrictions such as buy limits, minimum sell price thresholds, and a temporary suspension of market orders for the first hour of trading to ensure a stable launch.
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