Deep Dive
1. Exchange Delisting Fallout (Bearish Impact)
Overview: Bithumb, a top South Korean exchange, will delist CTXC on December 29, 2025, citing transparency gaps and failure to address compliance warnings (MEXC News). This follows prior delistings on OKX and ONUS in 2025. CTXC’s exchange support is eroding, with remaining liquidity concentrated on smaller platforms.
What this means: Delistings typically trigger sell-offs (e.g., CTXC dropped 11.8% post-OKX news) and reduce investor access. With 46% of its 30-day trading volume from Bithumb, the exit risks accelerating declines.
2. Verifiable AI Roadmap (Mixed Impact)
Overview: Cortex’s November 2025 update highlighted advances in zero-knowledge machine learning (ZKML) and a deterministic runtime for AI inference (Cortex Labs). However, full LLM support and MRT upgrades are slated for 2026, with no near-term catalysts.
What this means: While ZKML aligns with Web3’s trustless AI trend, competition (e.g., Fetch.ai, Bittensor) outpaces Cortex’s adoption. Progress could stabilize sentiment long-term, but delays or execution risks may exacerbate sell pressure.
3. Macro Liquidity & Sentiment (Bearish Bias)
Overview: Crypto markets remain in “Fear” (index: 30/100) with Bitcoin dominance at 59.1%, starving altcoins of capital. CTXC’s 90-day price drop (-90.9%) mirrors sector-wide risk aversion.
What this means: Until Bitcoin dominance breaks below 55%, AI-focused alts like CTXC face headwinds. High turnover (1.85x) signals speculative trading, not organic demand.
Conclusion
CTXC’s immediate risks (delistings, low liquidity) outweigh its speculative tech upside. Watch for exchange withdrawals post-Dec 29 and whether the team addresses transparency concerns. Can Cortex leverage its AI infrastructure to counter fading market access, or will shrinking liquidity deepen its downtrend?