South Korean Exchanges Upbit and Bithumb to Delist Zilliqa (ZIL)
In a significant move for the cryptocurrency market, two prominent South Korean exchanges, Upbit and Bithumb, have announced plans to delist the Zilliqa (ZIL) token. Upbit will terminate trading support for ZIL on November 16, 2026, at 09:00, while Bithumb has also confirmed its decision to remove the token, although specific timing details remain unclear.
Reasons for Delisting
Upbit’s decision comes after the exchange evaluated ZIL and concluded that it had not sufficiently addressed prior issues which resulted in the token being placed on a delisting watchlist. The exchange stated that despite the review process, the concerns surrounding ZIL were unresolved, leading to the termination of its trading support.
Bithumb’s announcement of delisting ZIL follows a similar rationale, though they have yet to specify when trading will cease on their platform. This lack of clarity has raised questions among users and investors about the future of ZIL.
Implications for Other Tokens
In addition to the delisting of ZIL, Bithumb announced that the MANTRA token will remain on the delisting watchlist, extending its review period. This indicates ongoing scrutiny but does not automatically suggest an impending delisting.
Cryptocurrency exchanges frequently reassess the assets they offer based on a set of criteria. The withdrawal of support for a token generally reflects unresolved concerns over its performance or stability.
Market Impact
The removal of Zilliqa from these major exchanges could impact its trading volume and investor sentiment, given the prominence of both Upbit and Bithumb in the South Korean cryptocurrency market. As traders and investors await further developments, uncertainty continues to loom over the ZIL token.
This is not investment advice.
