Bithumb and Coinone to Delist Highstreet (HIGH) on July 13

South Korean cryptocurrency exchanges Bithumb and Coinone have confirmed that they will delist Highstreet (HIGH) on July 13 at 6:00 a.m. UTC. The decision follows an earlier designation of HIGH as a delisting watchlist asset, with the exchanges stating that the underlying concerns have not been adequately addressed.

Background of the Delisting

Bithumb and Coinone, two of South Korea’s largest digital asset trading platforms, placed HIGH under review earlier this year. According to their official announcements, the exchanges determined that the issues prompting the watchlist designation remained unresolved. The exchanges did not specify the exact nature of the concerns, but such actions typically relate to project transparency, team communication, token distribution, or regulatory compliance.

HIGH is the native token of Highstreet, a blockchain-based metaverse and e-commerce platform. The project aims to integrate virtual reality shopping with traditional retail brands. However, the token’s performance and project developments have faced scrutiny in recent months.

Impact on Traders and Investors

The delisting means that all HIGH trading pairs on Bithumb and Coinone will be removed. Users holding HIGH on these platforms must withdraw their tokens to external wallets before the delisting deadline. After the deadline, the exchanges may suspend withdrawal support, potentially locking funds on the exchange.

Traders should note that delistings often lead to sharp price declines and reduced liquidity. HIGH’s trading volume on South Korean exchanges has been significant, and the removal from two major platforms could further impact market accessibility.

What Led to the Watchlist Status?

South Korean exchanges maintain strict listing standards, particularly after the implementation of the Virtual Asset User Protection Act. Common reasons for watchlist designation include:

• Lack of regular project updates or communication
• Unclear tokenomics or supply changes
• Regulatory or legal concerns in the project’s jurisdiction
• Low trading volume or market manipulation risks

Neither Bithumb nor Coinone disclosed the specific criteria that triggered HIGH’s review, but their decision to delist suggests that the project failed to meet the required standards.

Conclusion

The delisting of HIGH by Bithumb and Coinone represents a significant development for Highstreet token holders in South Korea. The exchanges have given users a clear deadline to manage their positions. This event also highlights the increasing regulatory scrutiny and listing standards in the Korean crypto market, which may affect other tokens under review. Investors should monitor official exchange announcements and ensure timely action to avoid asset loss.

FAQs

Q1: When exactly will HIGH be delisted from Bithumb and Coinone?
The delisting will occur at 6:00 a.m. UTC on July 13. Users should complete all withdrawals before this time.

Q2: What happens to my HIGH tokens if I do not withdraw them before the deadline?
After the delisting deadline, the exchanges may suspend withdrawal support. Tokens left on the platform could become inaccessible. It is strongly recommended to withdraw to a private wallet.

Q3: Can HIGH be traded on other exchanges after the delisting?
Yes, HIGH may still be available on other global or decentralized exchanges. However, liquidity may decrease following the removal from major South Korean platforms.