Upbit Warns Synthetix (SNX) Could Be Delisted

Upbit has placed Synthetix (SNX) under a trading warning review that could result in the cryptocurrency being delisted from South Korea’s largest crypto exchange.

The designation takes effect on Aug. 7, with SNX deposits for the exchange’s Bitcoin trading pair to be halted from 4:30 p.m. Korea time. Upbit expects its assessment of the asset to remain open until sometime between Aug. 24 and Aug. 28.

The exchange identified several areas requiring review, including the project’s token issuance and circulation plans. It is also examining Synthetix’s viability, sustainability and progress.

SNX was priced at $0.2175 at the time of writing, CoinGecko data showed. The cryptocurrency has lost 64.3% of its value over the past 12 months. Its current price is also 99.2% below the record $28.53 reached on Feb. 13, 2021.

Source: Upbit