South Korea's largest cryptocurrency exchange, Upbit, plans to stop trading support for Bitcoin Gold starting January 23, 2025. Users can still withdraw BTG 30 days after the delisting date.

according to He notices Published on December 24, Bitcoin Gold (BTG) will not be available for trading on Obit Exchange starting January 23, 2025 at 14:30 KST.

This means that all buy and sell orders ordered after January 23 will be automatically canceled by the exchange. In addition, BTG-related services, including airdrops, wallet updates, and hard forks will no longer be supported by BTG.

Since December 10, the exchange has already marked BTG as a virtual asset “under caution” due to its trading volatility. Since then, the exchange has considered a range of aspects relating to BTG, including the transparency of its operations, disclosure of important matters, the practicality and sustainability of its business. However, as of December 24, the status of crypto assets remains unchanged.

“Upbit has decided that the reasons for designating Bitcoin Gold as a subject of caution are not resolved, and has decided to terminate trading support in accordance with the policy of designating digital assets as a subject of caution and ending trading support,” the exchange wrote.

Shortly after the notice was issued, Bitcoin Gold fell by approximately 25% over the past 24 hours, according to data from crypto.news. In fact, the token has been on a gradual decline since early December. BTG shares are down 35% in the past week and more than 60% in the past month.

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

Although the deletion is scheduled for January 23, users can still withdraw BTG for 30 days after trading support stops, until February 22, 2025. Although the period has expired, Upbit is warning users that returns may take longer to process. .

Bitcoin Gold is an open source cryptocurrency and a hard fork of Bitcoin. It aims to decentralize the mining process using a proof-of-work algorithm called Equihash, which can be implemented by common GPUs instead of relying on application-specific integrated circuits.

Bitcoin Gold was launched in 2017, and is also considered by some to be a more user-friendly alternative to the larger Bitcoin (Bitcoin) Cryptocurrency.