ThunderCore (TT) Crashes Over 50% Following Dual Exchange Delisting

ThunderCore’s TT token has fallen more than 50% after two major South Korean exchanges decided to end trading support for the asset. The selloff followed separate reviews by Upbit and Bithumb, two important crypto trading venues in South Korea. 

Both exchanges had earlier placed TT under investment warnings, giving investors time to assess the risks surrounding the project. Their eventual delisting decisions removed significant trading access and added fresh pressure to an already weakened market. 

Upbit and Bithumb End TT Trading Support

Upbit and Bithumb reached their decisions after separately reviewing TT following investment warnings issued in July. Upbit first designated TT as an investment-warning asset, citing concerns that required further examination before continued trading support. The exchange subsequently suspended deposits while conducting its review, leaving traders unable to add new TT holdings. 

Bithumb took a similar step, also placing TT under investment caution and temporarily suspending deposits for the token. Its review focused partly on concerns surrounding actual business progress and crypto adoption associated with the project. The reviews ultimately ended with both exchanges deciding to remove TT from their supported trading markets. 

For investors, the decisions represent more than another exchange listing change because they reduce access to major Korean liquidity. When smaller crypto assets lose established trading venues, buyers and sellers often face thinner markets and sharper price movements. 

That pressure became visible almost immediately as TT dropped more than 50%, according to CoinGecko market data. As of press time, the token is priced at $0.0001306.

Not the Only Token Affected

Notably, TT was not the only cryptocurrency affected by the recent reviews carried out by both exchanges. JasmyCoin (JASMY) also faced similar scrutiny. 

Both Upbit and Bithumb placed JASMY under investment warnings around the same time as ThunderCore’s token. Following this, the exchanges evaluated whether JASMY continued to meet their criteria for trading support. 

Bithumb cited concerns regarding business progress and cryptocurrency adoption when explaining its investment caution designation for JASMY. Likewise, Upbit subjected JASMY to a review, reflecting a broader scrutiny of assets that may pose increased risks to investors. The token experienced a modest plunge of 2.0%, trading at $0.004001 as of this writing.

 The simultaneous treatment of TT and JASMY indicates that these actions are part of a larger trend in exchange oversight. Such reviews are particularly important in South Korea, where major exchanges serve as significant gateways for retail crypto investors. 

As a result, the latest developments leave investors in both TT and JASMY facing similar questions about market access and future support from exchanges.