Upbit to delist NKN/BTC on June 15; withdrawals open until July 16
Upbit will delist NKN on June 15 by removing the NKN/BTC trading pair. After the cutoff, all Upbit NKN trading pairs will be removed, and NKN deposits will stop. Upbit says NKN withdrawals may remain available until July 16; users should withdraw before the deadline to avoid losing access.
NKN is trading near $0.007546 (about -3.4% over 24 hours), with a market cap around $6.04M and ~800.25M circulating supply. The token is still down roughly 99.5% from its April 2021 all-time high near $1.44. The delist decision is seen tightening access for some South Korea-based traders while NKN continues to list on other centralized venues such as KuCoin, MEXC and Gate.
For traders, Upbit’s delist of NKN is a near-term liquidity and sentiment risk: reduced venue availability can widen spreads, reduce depth, and increase volatility. If other exchanges follow, the sell-pressure effect could extend; if not, the impact may be more localized to Upbit flows. Overall, traders should treat Upbit’s delist of NKN as an event-driven catalyst and monitor order-book liquidity and spreads closely.
Bearish
Upbit’s June 15 delisting of NKN/BTC is likely bearish for NKN itself because it directly reduces an active trading venue for a portion of market participants. The immediate effects are tighter liquidity on Upbit, potential spread widening, and increased price sensitivity around order-flow gaps—factors that can accelerate downside in the short term.
In the near term, the move can also reinforce negative sentiment, especially since NKN is already far below its all-time high and trading volume is comparatively modest. In the longer term, the bearish impact depends on whether other exchanges maintain support. If additional venues remove NKN, market access shrinks further and volatility can persist; if major venues remain, the sell-pressure may be more contained to Upbit-related liquidity and repricing rather than a full market-wide collapse.