Upbit Delists Ravencoin Amid Consensus Bug Fears
Ravencoin (RVN) holders are facing a critical decision as Upbit, one of the largest cryptocurrency exchanges in South Korea, delists RVN on October 12. This move will remove the venue carrying the largest share of global daily volume, leaving only a thinly filled board of remaining markets.
The delisting is a result of a consensus bug discovered on August 7, which led to a wave of delistings across several exchanges. Upbit had already announced its decision to end trading support for RVN on September 10, citing unresolved risks and the need to protect users' assets.
According to the source, up to 57% of RVN's daily volume is tied to Upbit, making this delisting a significant event. For holders, the question now is where they can still trade RVN after the deadline. The article notes that the tradability of cryptocurrencies with an open security incident is decided by exchanges' risk assessments, not price action.
The delisting process will see the cancellation of open orders and deposits, but users' balances will remain unaffected. However, this may lead to liquidity issues for RVN holders who need to sell their assets. The article suggests that holders consider transferring their RVN into their own custody or selling on an exchange that still lists the token.