Upbit to End ICON (ICX) Trading Support on Oct. 19

What happened

Upbit, South Korea's largest cryptocurrency exchange, will end trading support for ICON (ICX) on October 19. It will cancel all open orders but allow withdrawals until November 18.

Confirmed

Global impact / market context

When a major exchange removes a coin, traders can no longer buy or sell it there, which may reduce demand and make the coin harder to trade. This could lower ICX's price and its cash available for holders.

Analyst inference

Exchanges often delist coins due to low volume or compliance issues. This action signals reduced confidence in ICX's future, possibly affecting its value on other platforms and investor interest in similar projects.

Analyst inference

What to watch

1. Watch for October 19, when Upbit cancels all open ICX orders and stops trading. Ensure any remaining positions are closed before this date. Confirmed
2. Consider moving ICX tokens to a wallet before November 18 to maintain access, as withdrawals close after that date, and holdings may become inaccessible. Proposed
3. Monitor ICX's price on other exchanges for potential drops or volatility, as delisting from a major platform often leads to reduced trading activity and value. Analyst inference

Evidence

• btcusa.com