Several exchanges are showing the door to cryptocurrencies and relinquishing the coins from their services of late. The trend was started by Binance, when it delisted Bytecoin (BCN), Chatcoin (Chat), Iconomi (ICN) and Triggers (TRIG). Exchanges like Bittrex and Polniex have since followed suit, delisting hardforks like Bitcoin Gold [BCG] and Bitcoin Private [BTCP].
Citing low volume and minimal trading as the key reasons for the mass exodus. Exchanges simply cannot afford to keep low performing coins on their platforms and have decided to give them the boot, rather than keep them listed.
OKEX, the highest grossing exchange by adjusted trade volume has announced on Thursday that it will commence the delisting of 58 trading pairs. The 58 trading pairs comprise of 42 digital currencies.
“To create a robust trading environment and offer the best trading experience to our users, we will delist several TRADING PAIRS,” stated OKEX in the announcement. The exchange cited Two main reasons for the delisting: weak liquidity and the low trading volume.
The execution time for this delisting will be 0600 CET on October 31 and the users who have completed any transactions using these coins can cancel their orders. If the users fail to cancel the order, the assets will be credited to the respective trading account.
OKEX has also explicitly stated that only the trading pairs will be delisted and not the coins itself. Other trading pairs that have sufficient liquidity and stable volume can be listed on the exchange.
The exchange stated, “We will strictly monitor all listed projects and implement the delisting / hiding mechanism for substandard projects when necessary. Protecting the interest of our users is always the essence of our service.”
Trading pairs that will be delisted from the OKEX exchange are:
Trading Pair to Be Delisted
|MAG||Maggie||ETH , BTC|
|RCN||Ripio Credit Network||ETH|
|CAN||Content and AD Network||BTC|
|GSC||Global Social Chain||BTC|
|MOT||Olympus Labs||BTC, ETH|