South Korea’s largest crypto trade, Upbit, plans to cease buying and selling help for Bitcoin Gold ranging from Jan. 23, 2025. Customers can nonetheless withdraw BTG 30 days after the date of delisting.
In response to discover printed on Dec. 24, Bitcoin Gold (BTG) will now not be obtainable 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 routinely be canceled by the trade. Moreover, providers 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 “subject to caution” attributable to its volatility in commerce. Since then, the trade has thought of 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 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 the policy for designating digital assets as subject to caution and terminating trading support,” wrote the trade.
Shortly after the discover was launched, Bitcoin Gold has gone down by almost 25% previously 24 hours, in keeping with information from crypto.information. In actual fact, the token has been on a gradual downhill slide since early December. BTG has plummeted by 35% previously week and greater than 60% previously 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 help 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 through the use of a Proof of Work algorithm known as Equihash, which could be carried out by widespread Graphics Processing Models as a substitute of counting on application-specific built-in circuit.
Launched in 2017, Bitcoin Gold can be thought of by some as a extra user-friendly different to the bigger Bitcoin (BTC) cryptocurrency.
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