BTM Price Crashes Following OKX Delisting Announcement
On November 6, BTM (Bytom) experienced a severe price crash, plunging over 30% within hours. As of reporting time, BTM traded at $0.019, marking a 37.81% decline in 24 hours.
The drastic drop followed OKX’s official announcement confirming BTM’s delisting:
OKX will remove the BTM-USDT trading pair on November 10 between 4:00–4:30 PM (UTC). Deposits were suspended on November 3, with no plans to reopen them.
A Bytom representative told BlockBeats:
"We learned of this through community channels and are communicating with OKX. Additionally, BTM will share updates soon."
BTM’s Decline: From Industry Leader to Obscurity
Two Years of Silence and Security Breaches
BTM, the native token of Bytom, saw minimal updates post-2020. The project’s official Twitter last posted a weekly report in June 2023.
On October 27, Bytom alerted followers about a compromised Telegram admin account, directing users to a new group. However, the replacement group attracted fewer than 80 members in its first 10 days.
Legacy as a Pioneer: "Top 3 Chinese Public Chain" and RWA Innovator
Founded in January 2017, Bytom launched its mainnet in April 2018. Alongside NEO and Qtum, it was hailed as one of China’s top three public chains.
Key Figures:
- Chang Jia (Long Bitcoin): Co-founder, also established BTC media platform 8BTC. Notably, his 2011 advice to a student to "buy Bitcoin with ¥6000" became legendary.
- Duan Xinxing: Former OKCoin VP and Bytom co-founder who left in October 2019.
Bytom pioneered Real-World Asset (RWA) tokenization, emphasizing "on-chain assets" as early as 2017.
👉 Explore how RWAs are shaping blockchain’s future
MOV Protocol: Bytom’s DeFi Experiment
In September 2019, Bytom introduced MOV, a DeFi protocol using BTM for its economic model. By September 2020:
- Total Value Locked (TVL): Exceeded $70 million
- Daily Trading Volume: Ranked 5th among DEXs
Despite early traction, MOV failed to sustain momentum amid Bytom’s declining activity.
FAQs: BTM’s Delisting and Future
Why was BTM delisted by OKX?
OKX hasn’t disclosed specifics, but exchanges often delist tokens due to low liquidity, compliance issues, or project inactivity.
Can BTM recover?
Historical delistings (e.g., Bittrex removals) often lead to prolonged price declines. Recovery depends on new partnerships, use cases, or exchange relistings.
What’s next for Bytom?
The team hinted at upcoming announcements. Community engagement and technical updates will be critical for revival.
👉 Learn about trading strategies during market volatility
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