Upbit Ditches BONK as Bithumb Holds On

Upbit will stop supporting Solana's meme coin BONK on Monday, ending its trading services for the token. This move follows a similar decision by rival exchange Upbit to remove support for BONK, leaving only Bithumb as a major South Korean exchange listing venue for the coin. The delisting is likely to reduce liquidity and regional adoption for BONK, creating urgency for traders in Korea.

The removal of Upbit's support comes as the market cap of BONK stands at $2.81T+, with a 24-hour spot volume of $30.99B+. The token's price movement is uncertain following this decision, and its future on other exchanges remains unclear. It's worth noting that Bithumb will continue to support BONK, but the loss of Upbit as a listing venue may impact the coin's overall performance.