The Bitcoin exchange Upbit announced that it will delist two altcoin trading pairs! Here are the details.

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The leading cryptocurrency exchange based in South Korea, Upbit, announced that it will completely terminate trading support for NEM (XEM) and StormX (STMX) digital assets on July 3, 2025.

Upbit is terminating trading support for NEM (XEM) and StormX (STMX).

The decision is based on comprehensive evaluations conducted after both cryptocurrencies were previously placed under investment warning status.

XEM and STMX will be delisted on July 3rd.

According to the announcement, the XEM and STMX pairs (XEM/KRW, XEM/BTC and STMX/KRW, STMX/BTC) will not be traded on the Upbit platform as of 15:00 on Thursday, 03-07-2025. All buy and sell orders placed by this date will be automatically canceled.

Why Are They Being Delisted?

Upbit stated that it made the decision to terminate trading support for NEM due to uncertainties regarding the lack of transparency, insufficient community participation, and the sustainability of the project. Similarly, on the StormX side, reasons such as the lack of necessary notifications from the project, absence of transparent processes for structural changes, and questioning the sustainability of the business model were cited as justifications for the removal of trading support.

Both assets were placed on the "investment warning" list on May 19, 2025. Upbit stated that it has continued to monitor the projects since that date and announced its decision to terminate trading support, indicating that the necessary improvements have not been made.

After the end of transaction support, users will be able to withdraw their XEM and STMX balances from the exchange until August 4, 2025. Upbit warned users to withdraw their assets in a timely manner, stating that transactions made after this date may take a long time due to technical reasons.

*This is not investment advice.

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