Digital coins that avoid being delisted at last minute rally on Coinbit

[Photo by Park Hyung-ki]

South Korea’s cryptocurrency exchange Coinbit has postponed delisting of eight digital coins, prompting a steep jump in value for some on the list.

Coinbit announced Wednesday that it decided to put off delisting of eight coins – LEX, IO, PTO, UPT, DEX, PROTO, DXR and NET, which were scheduled to be out of the market at 8:00 p.m. on Wednesday.

The company also said it would extend the examination period to put 28 coins on its watch list for a more thorough and fairer review.

The digital coins have been surging since the announcement was made just three hours before the originally planned time. LEX soared 3,060 percent to 3,040 won, growing 30 times higher than the previous day. UPT jumped 1,423, IP 458 percent and DEX 303 percent. Cryptocurrencies that were supposed to be on the watch list also see their value soar, with DKON up 2,683 percent and MEL 651 percent.

The company did not say the exact reason why it decided to hold off the delisting.

Coinbit is the third largest cryptocurrency exchange in Korea by transaction volume after Upbit and Bithumb.

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