Upbit Flags Solar (SXP) for Trading Alert, Halts Deposits

Edgen Crypto

·Jan 26 2026, 11:29

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Key Takeaways

South Korean exchange Upbit has designated Solar (SXP) as a "trading-alert" item and suspended its deposit services. The action follows a warning from the Digital Asset Exchange Alliance (DAXA), a consortium of the country's top exchanges, raising concerns about the token's stability and future on Korean platforms.

Upbit has officially listed Solar (SXP) as a "trading-alert" item, signaling increased risk to investors.
The decision was triggered by a caution designation from the Digital Asset Exchange Alliance (DAXA).
The suspension of SXP deposits is expected to reduce liquidity and could precede further delistings across other Korean exchanges.

Upbit Halts SXP Deposits on DAXA Warning

South Korean cryptocurrency exchange Upbit has designated Solar (SXP) as a "trading-alert" item, signaling heightened risk to investors. Concurrent with this warning, the exchange immediately suspended all deposit services for the SXP token. This move directly responds to a decision by the Digital Asset Exchange Alliance (DAXA), a consortium of major South Korean exchanges, which flagged the asset as requiring trading caution.

Delisting Fears Threaten SXP Market Access

The trading alert and deposit freeze on a major platform like Upbit are expected to create significant downward pressure on SXP's price, particularly within the influential Korean market. The suspension of deposits curtails liquidity and introduces substantial friction for traders. Furthermore, DAXA's collective designation raises the probability that other member exchanges could follow Upbit's lead, potentially culminating in a coordinated delisting that would severely impact SXP's market access in South Korea.