Upbit to End Bitcoin Gold (BTG) Trading? Here's the Timeline

Upbit’s Decision to Halt BTG Trading: What Traders Need to Know?

Upbit Announces Bitcoin Gold (BTG) Delisting in January 2025

Upbit, South Korea’s largest cryptocurrency exchange by trading volume, announced today that it will discontinue trading support for Bitcoin Gold (BTG) as of 14:30 local time on January 23, 2025. The delisting follows an internal review process, according to a post published on Upbit’s official website.

“We would like to inform you that trading support for Bitcoin Gold (BTG) will be terminated,” the statement reads, directing users to additional cautionary notes that address the specific reasons behind the delisting.

Termination of Trading Support for Digital Asset

1. In accordance with Upbit's Digital Asset Trading Support Termination Policy, the trading support for this digital asset will end on 2025-01-23 (Thu) at 14:30 KST.

2. Upon termination of trading support, any orders (buy/sell) requested before the termination in the market will be canceled en masse.

3. After this notice, services such as airdrops, wallet upgrades, and hard forks for digital assets scheduled for termination of trading support will not be supported.

4. Following the termination of trading support, only withdrawals of the asset will be supported until February 22, 2025.

Bitcoin Gold: A Mining Revolution - Where Does It Stand Now?

Launched in 2017, Bitcoin Gold (BTG) aimed to revolutionize mining with a unique twist - an alternative hashing algorithm designed for GPU mining. Initially capturing the spotlight, BTG sought to level the playing field for miners. However, over the years, its market performance and adoption have seen ups and downs, prompting many exchanges to rethink their support for the coin. 

At the time of writing, Bitcoin Gold (BTG) is currently priced at $13.16, experiencing a 23.10% drop over the past 24 hours. Despite this decline, its trading volume has surged by an impressive 332.15%, reaching $143.88 million. With a market cap of $230.56 million, Bitcoin Gold’s fluctuating performance is turning heads.

What Traders Need to Know

• Date & Time: Delisting occurs on January 23, 2025, at 14:30

• Trading Pairs: All BTG trading pairs (e.g., BTG/KRW, BTG/BTC) will be removed.

• Withdrawals: Upbit will likely provide a grace period for BTG withdrawals. Stay tuned to the official Upbit notice for specific deadlines.

Upbit Exchange has not provided a detailed explanation for the decision but often cites factors such as liquidity, compliance, technical stability, and legal considerations when deciding to terminate support for specific tokens. The imminent delisting of Bitcoin Gold (BTG) by Upbit signals a significant shift in the token’s journey. For seasoned traders, this may serve as a routine portfolio adjustment, but for long-time BTG enthusiasts, it’s a stark reminder of how quickly the crypto landscape can change.