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BONK South Korea's two major cryptocurrency exchanges, Upbit and Bithumb, recently made completely different decisions on the popular memin coin Bonk (BONK). Upbit announced that it will stop supporting BONK transactions on its platform, while Bithumb announced that it will remove the token from the removal watch list.
According to an announcement issued by Upbit, BONK will be removed from the exchange at 09:00 on September 7. After that, users need to follow relevant procedures to handle BONK transactions and asset transfers. Removal means that the trading pair of the cryptocurrency will be removed from the platform and users will no longer be able to use the asset to trade.
The Korean cryptocurrency exchange regularly evaluates its online digital assets based on specific criteria. Factors such as trading volume, liquidity, project activity, investor protection, technological development status, and market environment may all affect the decision to launch or remove shelves.
Unlike Upbit, Bithumb has taken a more proactive approach to BONK. The exchange announced that it had removed BONK from its removal watch list, signaling that previous trading warnings against BONK are expected to be gradually lifted.
South Korea's two major exchanges have made different decisions on the same asset, reflecting that cryptocurrency projects will be independently evaluated by each exchange. The decision of an exchange to remove the token does not mean that the token will be automatically removed from other platforms.
As one of the leading memos in the Solana ecosystem, BONK has attracted particular attention from retail investors. Since the price fluctuations of memos are usually large, decisions on major exchanges to launch or remove them may have a significant impact on their token prices and trading volumes.
As Upbit's lift-off date (September 7) approaches, market participants are expected to pay close attention to BONK's trading status on other South Korean exchanges, as well as any potential new announcements. Bithumb's decision to remove it from the watch list indicates that the token's existing trading support on the platform has continued.
* This article does not constitute investment advice.
