Just recently, OKEx, the Hong Kong based cryptocurrency exchange, announced that they are going to delist several trading pairs.
The official statement reads:
“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 according to the OKEx Token Delisting / Hiding Guideline.”
They are highlighting the fact that the exchange is not delisting the tokens themselves, they are delisting the trading pairs which have low trading volume and liquidity.
When is this going to happen?
This action will take place at 06:00 October 31, 2018. “Users should cancel their orders of the affected pairs from our platform. If your order is not canceled in time, the order will be canceled by the system and your asset will be credited to your trading account,” says the official announcement.
Which token pairs are delisting?
Some of the popular ones are Monetha-Bitcoin/Tether pairs, Change-Bitcoin/Ethereum, Bread-Tether, Iconomi-Bitcoin/Ethereum, Substratum-Tether, FirstBlood-Bitcoin/Ethereum, etc.
The full list of all the token pairs that are going to delist you can see here.
How to look at this?
That might come as a little shock because some of the tokens have legit teams working on them like Substratum, and some have a working product like Monetha. OKEx currently is the second largest cryptocurrency exchange by trading volume, just behind Binance. At the same time, OKEx has the most amount of markets trading within the platform a.i. 516, while Binance has “only” 388.
Also, if we sort all the exchanges by their amount of markets, then we see that OKEx is the top 3 exchange with the most significant number of markets. Ahead of OKEx only comes HitBTC with 809 and Cryptopia with 847 markets. So when we look at this situation from this point of view, this action makes logic sense.
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