South Korea’s largest crypto trade, Upbit, plans to cease buying and selling assist for Bitcoin Gold ranging from Jan. 23, 2025. Customers can nonetheless withdraw BTG 30 days after the date of delisting.
In response to notice printed on Dec. 24, Bitcoin Gold (BTG) will now not be accessible for buying and selling on the Upbit trade ranging from Jan. 23, 2025 at 14:30 KST.
Because of this all purchase and promote orders requested after Jan. 23 will mechanically be canceled by the trade. Moreover, companies associated to BTG, together with airdrops, pockets upgrades, and arduous forks will now not be supported by BTG.
Since Dec. 10, the trade has already tagged BTG as a digital asset that’s “topic to warning” as a result of its volatility in commerce. Since then, the trade has thought-about a spread of features associated to BTG, together with the transparency of its operations, disclosure of vital issues, practicality and sustainability of its enterprise. Nevertheless by Dec. 24, the crypto asset’s standing stays unchanged.
“Upbit decided that the explanations for designating Bitcoin Gold as a topic of warning haven’t been resolved, and determined to terminate buying and selling assist in accordance with the coverage for designating digital belongings as topic to warning and terminating buying and selling assist,” wrote the trade.
Shortly after the discover was launched, Bitcoin Gold has gone down by practically 25% up to now 24 hours, in keeping with information from crypto.information. The truth is, the token has been on a gradual downhill slide since early December. BTG has plummeted by 35% up to now week and greater than 60% up to now month.
When ranked based mostly on market cap, Bitcoin Gold stands in 346th place with a market cap of $226 million. BTG has a completely diluted valuation of $271 million and a 24 hours buying and selling quantity of $147 million.
Regardless of the delisting being scheduled for Jan. 23, customers can nonetheless withdraw BTG for 30 days after the buying and selling assist has stopped, up till Feb. 22, 2025. Although after the interval ends, Upbit warns customers that returns might take longer to be processed.
Bitcoin Gold is an open-source cryptocurrency and Bitcoin arduous fork. It goals to decentralize the mining course of by utilizing a Proof of Work algorithm known as Equihash, which may be carried out by frequent Graphics Processing Items as an alternative of counting on application-specific built-in circuit.
Launched in 2017, Bitcoin Gold can be thought-about by some as a extra user-friendly various to the bigger Bitcoin (BTC) cryptocurrency.
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