Key Highlights
- South Korean cryptocurrency exchange Bithumb has announced plans to delist the Zilliqa ($ZIL) token, though specific termination dates remain unannounced.
- Bithumb has also extended the review period for MANTRA, keeping the token on its delisting watchlist rather than issuing an immediate removal.
- With previous actions taken by Upbit alongside Bithumb, Zilliqa faces the loss of trading support across two of South Korea’s largest digital asset platforms.
Bithumb Targets Zilliqa for Delisting Amid Ongoing Asset Reviews
In a major regulatory and operational move, South Korea-based cryptocurrency exchange Bithumb has officially revealed that it will delist Zilliqa ($ZIL). While the prominent exchange confirmed the decision to terminate trading support for the digital asset, Bithumb did not provide immediate operational details or a finalized schedule outlining when $ZIL trading and transactions will officially cease on its platform.
The decision deals a compounding blow to Zilliqa’s market access in the region. Recent decisions from both Upbit and Bithumb demonstrate that $ZIL is set to lose critical trading support on two of South Korea’s dominant cryptocurrency trading platforms, cutting off substantial domestic liquidity.
MANTRA Watchlist Designation Extended by Exchange Operators
Alongside the action on Zilliqa, Bithumb announced an extension of its delisting watchlist designation for the MANTRA token. The extension confirms that the previously initiated review process for MANTRA will remain active, keeping the asset under continuous formal scrutiny by exchange auditors.
Industry exchange protocols dictate that extending a token’s tenure on an assessment watchlist does not automatically trigger an outright delisting. Rather, the procedural extension reflects that the asset remains under targeted administrative review while evaluators determine whether lingering operational or regulatory concerns are properly addressed.
Evaluation Criteria and South Korean Exchange Oversight
Cryptocurrency platforms regularly conduct rigorous, periodic evaluations of all listed digital assets against internal compliance, liquidity, and security benchmarks. Under these standard operational frameworks, if underlying problems or regulatory discrepancies are not adequately resolved following review intervals, trading support for the affected tokens is formally terminated.
While MANTRA retains temporary placement on the market during its extended evaluation cycle, market uncertainty remains high regarding its long-term availability on Bithumb.
Why This Matters
South Korean exchanges operate under strict regulatory and operational standards, making listing reviews pivotal events for altcoin liquidity and market presence. Because Upbit and Bithumb represent the vast majority of digital asset trade volume in South Korea, simultaneous support terminations—such as the joint actions concerning Zilliqa—severely restrict regional market access for token holders. For assets placed on observation status like MANTRA, an extended watchlist designation highlights escalating scrutiny from platform operators, leaving traders and asset teams to await definitive operational rulings.
Frequently Asked Questions
Has Bithumb set an official date to end Zilliqa ($ZIL) trading?
No. Although Bithumb has formally announced that it will delist Zilliqa, the exchange has not yet provided specific details or dates regarding when $ZIL transactions will officially be terminated.
Does MANTRA’s watchlist extension mean it will definitely be delisted?
No. An extension on the watchlist indicates that Bithumb’s review process is still ongoing and that the asset remains under evaluation. It does not automatically signify a guaranteed delisting, though the asset’s future on the exchange remains uncertain.
Why are Zilliqa and MANTRA facing scrutiny on South Korean exchanges?
Cryptocurrency exchanges regularly review listed assets against established compliance and performance criteria. If flagged issues or conditions are not resolved during these assessment windows, exchanges may extend the review period or move to terminate trading support entirely, as seen with Bithumb and Upbit’s actions regarding Zilliqa.
