OKEx Is Delisting Another Batch of Crypto Trading Pairs Over Weak Performance
Hong Kong-based cryptocurrency exchange OKEx will delist the third batch of trading pairs due to their weak liquidity, according to an announcement published on November 27.
As per the announcement, the exchange will halt the trading of a swathe of crypto pairs that they cite as having weak liquidity and trading volume at 05:00 Nov 30, 2018 (CET). Users are asked to cancel orders of these affected pairs from the platform.
The exchange also requires users who are holding these tokens, including VEE, LEV, AVT, CBT, WRC, QVT, MTL, DNA, DNT, OAX, 1ST, CAG, UKG, BRD, SAN, ICN, ATL, SUB, REQ, NGC, AMM, LA, DENT, CIT, DAT, and MAG, to withdraw them immediately to other platforms or to their wallet. The withdrawals of the above tokens will be closed from 05:00 Dec 14, 2018 (CET).
Prior to it, OKEx has begun delisting pairs with weak performance. This August, the first batch of 28 trading pairs have been removed from the platform, and the second swathe of 50 trading pairs was delisted in October. This time, it is removing a further 49 trading pairs from its order book.
The exchange explained the delisting was to promote a robust ecosystem and protect the interests of its users, saying
“We will strictly monitor all listed projects and implement the delisting/ hiding mechanism for substandard projects when necessary.”
Apart from the “housekeeping” move, the platform has recently been cautious on token listing recently. The past three months saw few tokens be added to its order book, except for last month’s four stablecoins – TrueUSD (TUSD), USD Coin (USDC), Gemini Dollar (GUSD), and Paxos Standard Token (PAX). The exchange also launched OKEx Project Info, an information platform to offer token projects’ information, roadmap and development progress, as well as third-party reviews, cited as “helping customers to gain a better understanding of the projects before they make any trading decisions”.
Founded in 2014, OKEx is at press time the world’s second largest cryptocurrency exchange in terms of adjusted trading volume, seeing around $724.5 million in trades over the past 24 hours.