Bithumb to Terminate Trading for an Altcoin: Price Plummets 77 Percent

Bithumb has decided to terminate trading support for Synthetix (SNX); the token has dropped 77 percent in the last 24 hours.

According to the exchange’s announcement, the issues that led to SNX being placed under a trading warning were not resolved by the explanatory documents provided by the project. Following an evaluation of elements related to the project’s operation, it was stated that the asset does not meet the necessary conditions to maintain trading support.

Buy and sell transactions for SNX will end on September 28, 2026, at 15:00. With the removal of trading support, transactions via API will be stopped, and all remaining open buy-sell orders will be canceled in bulk. Bithumb warned that the schedule may change depending on internal conditions.

Withdrawal support for SNX will continue until October 28, 2026, at 15:00. Users are requested to withdraw their assets before this date, and those who will transfer to overseas virtual asset service providers or personal wallets are advised to complete their whitelist address registrations in advance, as the address review may take time.

It was reported that after the withdrawal support ends, technical services such as mainnet, hard fork, airdrop, and swap may be stopped, and withdrawals may also be restricted. The exchange stated that sharp price movements may occur after the termination of trading support and that holding SNX may pose additional risks. According to CoinMarketCap data, SNX is trading at $0.22395, down 77 percent in the last 24 hours.