A significant development marked the beginning of the week in the South Korean crypto market. Upbit and Bithumb, the country's two largest exchanges, decided to delist SXP and OAS tokens from the spot market. The announcements, made consecutively on the morning of February 10, 2026, quickly created considerable uncertainty, particularly for investors heavily exposed to the Korean market. The decision stems from a joint assessment under the DAXA, the exchange coordinating in South Korea.
Delist decisions for 2 altcoin
The timing of the announcements was also noteworthy. Upbit announced the delisting of SXP from spot trading at 10:00 AM. Bithumb followed immediately with a similar announcement. Approximately half an hour later, both exchanges simultaneously announced the delisting of OAS. The decisions only apply to the spot market. High-volume pairs such as SXP/KRW, SXP/BTC, and OAS/KRW were delisted, and users were specifically instructed to withdraw their assets within the specified timeframe. SXP is known as the native token of the Solar ecosystem. The project, previously known as Swipe, stood out with its claim to combine payment solutions with the DeFi world. Used for staking, governance, and on-network transactions on the Solar network, SXP was launched in 2019 by a London-based team. However, in recent months, questions have arisen regarding the project's financial sustainability and transparency. SXP, which has been on DAXA's "investment alert" list since January 2026, had previously had its deposits suspended by Upbit. The delisting decision led to sharp fluctuations in the token price, which fell by 7% in the last 24 hours.
The situation is slightly different for OAS, but the result is the same. The OASys network is positioned as a game-focused Layer-1 blockchain. Targeting Web3 game studios with its Ethereum-compatible architecture and near-zero gas fees, the project had long generated a positive perception thanks to collaborations with industry giants like Square Enix and Sega. Despite this, weakening trading volume on South Korean exchanges and communication problems on the project side led to OAS receiving a DAXA delisting warning. The token quickly faced selling pressure after the delisting news, falling by 3% in the last 24 hours.
Korean Won-based trading pairs with Upbit and Bithumb continue to be the main source of liquidity for many altcoins. Therefore, delisting decisions affect not only local investors but also the global market. In the past, similar actions have resulted in value losses exceeding 20% for some tokens. For investors, the process is clear: assets must be withdrawn before the deadline set by the exchanges. SXP and OAS are still being traded on platforms such as Binance, MEXC, and Gate.io. However, it is likely that the liquidity leaving the South Korean market will continue to put pressure on these tokens for some time.
