Bitcoin Gold Set for Delisting from Upbit on January 23, 2025, as a Precautionary Measure

Upbit, South Korea’s largest cryptocurrency exchange, has announced it will discontinue trading support for Bitcoin Gold (BTG) effective January 23, 2025. Users will have the option to withdraw their BTG for a period of 30 days following the delisting.

As per a notice released on December 24, Bitcoin Gold (BTG) will be removed from the Upbit exchange at 14:30 KST on January 23, 2025.

This means all buy and sell orders placed after the mentioned date will be automatically canceled by the exchange. Furthermore, any services related to BTG, such as airdrops, wallet upgrades, and hard forks, will no longer be supported.

Since December 10, Upbit has already classified BTG as a virtual asset marked “subject to caution” due to its trading volatility. The exchange has evaluated various aspects of BTG, including operational transparency, significant matter disclosures, and the practicality and sustainability of its operations. However, as of December 24, the asset’s status remains unchanged.

“Upbit concluded that the issues leading to the caution designation for Bitcoin Gold have not been addressed, prompting the decision to cease trading support in accordance with our caution policy,” stated the exchange.

Upbit set to delist Bitcoin Gold on Jan. 23, 2025 due to trading caution - 1
Price chart for Bitcoin Gold over the last few months, December 24, 2024 | Source: crypto.news

Following the notice’s release, Bitcoin Gold’s value has dropped nearly 25% in the past 24 hours, according to crypto.news data. The token has been on a steady decline since early December, experiencing a 35% drop over the week and over 60% within the past month.

Currently, Bitcoin Gold ranks 346th based on market capitalization, with a value of $226 million. It has a fully diluted valuation of $271 million and a 24-hour trading volume of $147 million.

Although the delisting will take place on January 23, users can continue to withdraw BTG until February 22, 2025. However, Upbit cautions that processing returns may take more time after this withdrawal period ends.

Bitcoin Gold is an open-source cryptocurrency created as a hard fork of Bitcoin. Its purpose is to decentralize the mining process using a Proof of Work algorithm called Equihash, which can be executed on standard Graphics Processing Units rather than depending on application-specific integrated circuits.

Launched in 2017, Bitcoin Gold is also regarded by some as a more user-friendly alternative to traditional Bitcoin (BTC).

Disclosure: This article is not intended as investment advice. The information presented on this page is for educational purposes only.

  • Related Posts

    Controversy Sparks in North West as Tswaing Mayor Norah Mahlangu’s Private Video Leaks

    Norah Mahlangu, the mayor of Tswaing in North West’s Ngaka Modiri District, has opted for a month-long special leave following the release of an explicit video featuring her in an…

    Continue reading
    ChowWow Rises in Popularity as Solana Encounters Obstacles: Here’s Why Investors Are Paying Attention

    Disclaimer: This article is for informational purposes only and should not be considered as investment advice. The content on this page is intended solely for educational use. Solana’s price has…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Controversy Sparks in North West as Tswaing Mayor Norah Mahlangu’s Private Video Leaks

    Controversy Sparks in North West as Tswaing Mayor Norah Mahlangu’s Private Video Leaks

    ChowWow Rises in Popularity as Solana Encounters Obstacles: Here’s Why Investors Are Paying Attention

    ChowWow Rises in Popularity as Solana Encounters Obstacles: Here’s Why Investors Are Paying Attention

    September: Mammila Returns to Revitalize the Club

    September: Mammila Returns to Revitalize the Club

    Portfolio Committee Calls for Arrest of Zanzou Nightclub Owners

    Portfolio Committee Calls for Arrest of Zanzou Nightclub Owners

    Nigerian Lawmaker Sues Binance Executive Over Bribery Claims: Report

    Nigerian Lawmaker Sues Binance Executive Over Bribery Claims: Report

    Munetsi Ready to Compete at Moses Mabhida Stadium in Zimbabwe’s World Cup Qualifier

    Munetsi Ready to Compete at Moses Mabhida Stadium in Zimbabwe’s World Cup Qualifier