Upbit delisting puts fresh pressure on NKN token

Upbit will end trading support for NKN on June 15, removing the NKN/BTC pair from its platform. 

Wu Blockchain reported the notice on May 14, citing Upbit’s official announcement.

Users must withdraw their NKN by July 16. After that deadline, withdrawals may no longer be processed. The move gives holders about one month after trading ends to move tokens to another exchange or a private wallet.

NKN trades near $0.0075

CoinGecko showed NKN trading at $0.007546 at press time, down 3.4% over 24 hours. The token’s 24-hour range was between $0.007238 and $0.007891.

The token had a market cap of about $6.04 million and a fully diluted valuation near the same level. CoinGecko also showed 24-hour trading volume of about $175,453 and a circulating supply of roughly 800.25 million NKN.

Notably, NKN remains far below its peak. CoinGecko lists its all-time high at $1.44 from April 2021, meaning the token is down about 99.5% from that level.

The Upbit delisting may reduce access for some Korean traders, but NKN still trades on other platforms. CoinGecko lists KuCoin, MEXC and Gate among centralized exchanges where NKN markets remain active.

South Korea keeps strict listing standards

The move comes as South Korean exchanges continue to apply tighter listing reviews. In related coverage, Flow Foundation and Dapper Labs sought court action after Upbit, Bithumb and Coinone moved to end FLOW trading support following a security incident.

Earlier reports also noted that WEMIX faced delisting by major South Korean exchanges after concerns over token supply disclosures. That case showed how exchange decisions in Korea can quickly affect liquidity and market sentiment.