Upbit Delisting Notice Sends 3 Altcoins Lower Before September Cutoff

Upbit will end trading support for Storj (STORJ), JasmyCoin (JASMY), and ThunderCore (TT) on September 14 at 3 p.m. KST, delisting six trading pairs from South Korea’s largest crypto exchange.

The notices were published on Friday afternoon in Seoul. For all three assets, Upbit said that further reviews found the concerns behind their investment-caution designations remained unresolved.

What Traders Need to Know

Upbit designated STORJ as an asset subject to investment caution on July 28. It added JASMY and TT on July 31. In the delisting notice, the exchange pointed to several shortcomings in STORJ and JASMY.

This included the disclosure of important information, as well as questions about the reality, sustainability, and actual progress of each project’s business. 

For ThunderCore, Upbit also examined total supply, circulation plans, and the extent of changes to the project’s business plan, including whether proper procedures existed for those changes and how transparent and reasonable they were.

“The exchange also confirmed that these issues could potentially result in losses for users,” the notice read.

The exchange said trading will end for the following six pairs: STORJ/KRW, STORJ/BTC, JASMY/BTC, JASMY/USDT, TT/KRW, and TT/BTC. Although trading support will end on September 14, Upbit will continue to support withdrawals for all three assets for 30 days, through October 14, 2026.

The exchange also said that, following the announcement, it will no longer support services such as airdrops, wallet upgrades, or hard forks for the three assets. All pending buy and sell orders will be canceled when trading support ends.

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3 Altcoins Slide as Upbit Delisting Notices Land

All three tokens turned lower within minutes of the notices. TT fell 6.62%, JASMY dropped 5.25%, and STORJ was down 1.98% after a partial recovery.

Over a broader time frame, ThunderCore has recorded the steepest decline of the three. Its market value is near $1.9 million after a 24-hour drop of more than 57% and a 30-day decline of nearly 80%.

STORJ faces a separate set of pressures. Storj Labs filed for Chapter 11 bankruptcy last month. The company said it intends to propose a mechanism that would allow token holders to participate in the equity of the restructured business. 

Storj noted that any plan requires court approval and must respect the legal priority among stakeholders, which places creditors ahead of equity. The token’s market capitalization stands at about $19 million, down about 40% over 30 days.

JASMY remains the largest of the three by market value, ranking around 162nd with a market value of $195 million. It is dowm 3.6% over the past month. The latest delistings follow Upbit’s decision to remove BONK effective September 7.

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The post Upbit Delisting Notice Sends 3 Altcoins Lower Before September Cutoff appeared first on BeInCrypto.