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Altcoin News | OKEX Exchange to Delist Over 50 Trading Pairs

Okex

OKEx is among the world’s biggest cryptocurrency exchanges in terms of trading volume. On October 25, 2018 they put forward a message on their site addressing their customers regarding the delisting of certain trading pairs.

This move has come as an attempt to create, as they state, “a robust trading environment and offer the best trading experience to our users”.

In one of his tweets, Andy Cheung, Head of Operations at OKEx stated:

“As leaders, we are responsible for promoting a robust ecosystem. Listing projects loosely or having 795 trading pairs is simply putting trader interests at risks. Housekeeping is necessary. We need to take action on those underperforming tokens now.”

According to the announcement made, more than 50 trading pairs will be delisted from the exchange. The users have been warned to cancel their trades on the chosen trading pairs. If they fail to do so, the exchange, at the time of delisting, will cancel those trades automatically and send the funds to the user’s account.

These trading pairs have been chosen after monitoring their liquidity and trading volume. All those pairs which failed to meet the standard liquidity as needed on the exchange or failed to drive the desired trading volume are to be cleaned off the board. Andy Cheung also tweeted:

“Getting listed is not final. Maintaining a good performance is the key to success. At OKEx, our utmost responsibility is to ensure a robust ecosystem for our projects to grow and the best trading environment for our users to experience.”

This move might even be considered by other exchanges to free up their platform from the clutter and offer a cleaner trading experience to their users. One thing that needs to be focused on is that OKEx will only delist TRADING PAIRS but not the token themselves. The deadline for cancelling the orders is 6am, 31st October, CET (GMT +1).

In the past few weeks, Binance delisted four digital assets namely Bytecoin (BCN), Chatcoin (CHAT), Iconomi (ICN), and Trigger (TRIG) on almost similar grounds. OKEx has also announced that they would later delist Bytecoin (BCN) from their platform.

Here is the list of all the digital assets whose trading pairs the platform would remove:

Ticker Token Name Trading Pair to Be Delisted
READ READ BTC
NGC NAGA ETH, USDT
PRA ProChain BTC
IPC IPChain ETH, BTC
MAG Maggie ETH , BTC
TRA Travel BTC
VEE BLOCKv USDT
RCT RealChain BTC, USDT
CBT CommerceBlock ETH, USDT
DNA EncrypGen BTC, ETH
VIU Viuly ETH, BTC
RCN Ripio Credit Network ETH
MTH Monetha BTC, USDT
AVT Aventus ETH, USDT
CAG Change BTC, ETH
REF RefToken USDT
UKG Unikoin Gold USDT
BRD Bread USDT
ATL ATLANT USDT
CAN Content and AD Network BTC
CHAT ChatCoin ETH
AUTO CUBE USDT, BTC
MTL Metal USDT
SUB SubStratum USDT
EVX Everex BTC
ICN Iconomi BTC, ETH
OAX OAX BTC
1ST FirstBlood BTC, ETH
SDA SixDomainChain BTC
XAS Asch ETH
AST AirSwap BTC, ETH
GSC Global Social Chain BTC
MOT Olympus Labs BTC, ETH
UCT UCOT BTC
AIDOC AI Doctor BTC
TOPC TopChain BTC
SPF Sportyco ETH
ACE ACE ETH
AMM Micromoney BTC, ETH
FAIR FairGame BTC
STC Starchain ETH
XUC Exchange Union BTC

Source: support.okex.com

It has also been made clear that strict monitoring of all listed projects will be done and the delisting/hiding mechanism will be implemented for substandard projects whenever necessary. The platform announced the listing of the following four stablecoins on its platform, all at once: TrueUSD (TUSD), USD Coin (USDC), Gemini Dollar (GUSD), and Paxos Standard Token (PAX).

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