Crypto Giant OKEx Deslists Several Trading Pairs
Today brought news of OKEx exchange delisting several additional trading pairs. This is the third time OKEx has delisted a group of assets.
OKEx Delisting
In an announcement today on their website support page, OKEx stated the delisting of thirty-eight different cryptocurrency trading pairs.
OKEx directed the announcement toward its customers, explaining the delisting of multiple assets was due to their low volume and liquidity.
Several notable delisted pairs include Bread (BRD/ETH), Datum (DAT/BTC/ETH/USDT), and LAToken (LA/ETH), as well as others.
According to Coinmarketcap.com, Bread once had a market cap of more than $192 million, priced over $3 per token.
The battle-scared asset now reports a market cap of only about $18.7 million, at slightly over $0.21 per token. Many cryptocurrencies show significant price wear and tear after traveling to the depths of what has been an intense cryptocurrency bear market.
The listed pairs will be removed on November 30. The announcement also importantly states – “[u]sers 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”.
Additionally, OKEx will close withdrawals for the mentioned assets at 05:00 (CET) on December 14, 2018.
Third Batch
OKEx explains this group of delistings to be the “third batch” of delisted assets. CCN.com reported of thirty other delisted OKEx pairs in late October. Those included the likes of Monetha (MTH/BTC) and Ripio (RCN/BTC).
Not The Only Exchange To Delist
OKEx is not the only exchange delisting trading pairs. Earlier this year in March, The Next Web reported on the eighty-four crypto assets delisted from Bittrex exchange. The list includes mostly lesser-known assets. These coins and tokens were reportedly in violation of Bittrex’ terms and conditions.
Last month CCN.com reported on Binance delisting four cryptocurrencies, impacting their respective prices significantly. Bytecoin (BCN), Iconomi (ICN), Triggers (TRIG), and ChatCoin (CHAT) were all removed from Binance. Triggers saw the most significant negative impact – a massive price drop of almost 49%.
The past couple months have also seen Liqui exchange removing 25 trading pairs, as detailed by CCN.com. The Liqui case differed slightly however, in that some of the delisted pairs were top volume producers like Basic Attention Token (BAT). This raised questions of a possible exit scam in the works.
Although its no surprise to see so many asset removals in a year that has seen significant SEC interest and interaction, with more on the horizon.
Featured image from Shutterstock.
