OKEx, a popular cryptocurrency exchange has once again scaled down non-performing trading pairs on its platform. The delisting of the trading pairs comes after just a month when the exchange performed a similar operation.
The current operation will see 38 non-performing trading pairs rendered inactive and non-existent. The exchange indicated that the delisting was triggered by low liquidity and volume exhibited by the affected tokens.
“To create a robust trading environment and offer the best trading experience to our users, we will delist several trading pairs with weak liquidity and trading volume,” noted OKEx through its website.
The affected tokens include Micromoney (AMM), ATLANT (ATL), AVENTUS (AVT), among others with the most affected trading pairs being those involving Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
Some of the delisted tokens, e.g Bread (BRD), recorded a market capitalization of more than 192 million U.S dollars according to coinmarketcap. By then, BRD was exchanging hands at 3 U.S dollars. Unfortunately, the token is exchanging hands at around 0.21 U.S dollars with a market capitalization of approximately 19 million U.S dollars.
Although withdrawal orders for the delisted tokens will officially be deactivated on December 14:
“Users should cancel their orders of the affected pairs” from the exchange. Otherwise, “the order will be canceled by the system and your asset will be credited to your trading account.”
OKEx also noted that it will ‘strictly monitor all listed projects’ and depending on how they behave on its platform, they may be delisted.
On October this year, OKEx delisted another set of 30 non-performing trading pairs citing low trading volumes and liquidity.
OKEx is not the only cryptocurrency exchange scaling down on non-performing trading pairs seeing that Binance and Bittrex have recently delisted a varying number of non-performing trading pairs.
Do you think the prolonged bear market has contributed to the delisting of non-performing trading pairs from several crypto exchanges?
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