TheCryptoUpdates
Cryptocurrency News

OKEx to Delist 49 Crypto Trading Pairs Due to Weak Liquidity

OKEx to Delist 49 Crypto Trading Pairs Due to Weak Liquidity

OKEx, the cryptocurrency exchange came up with an announcement that it will be eliminating a total of 38 digital currencies (49 trading pairs) by this month end. This delisting will happen on 30th November 2018 at 5:00 CET. The digital currencies that will be eliminated include DENT, BRD, OST, KEY and several others.

Third Wave of Delisting This Year

The elimination comes as OKEx’s third delisting lot this year. Previously, there have already been reports by CryptoGlobe about OKEx’s regular delistings and cleanups for ensuring the fact that there are entirely no inactive trading pairs left in the exchange.

Last month, the exchange announced the removal of 42 cryptos throughout 58 trading pairs. Before this, the exchange’s first round of crypto elimination delisted around 28 trading pairs along with 20 digital currencies. It means that within a delisting batch of three rounds, there are about 135 trading pairs that have been completely removed from the exchange.

The Delisting Scheme by OKEx

OKEx has come up with a diverse “Token Hiding/Delisting Policy” explaining OKEx’s analysis procedure before delisting coins. By way of this process, the exchange has its eyes on a handful of aspects determining the future of digital currency.

The very first thing that they are looking at is the team. In case there are specific changes in the business model or staff, or if there are any legal problems faced by the team, they are likely to be eliminated. Next and most importantly, OKEx will be reviewing the volume of token trading. The exchange’s policy in regards to token trading volume is that if “the average regular trading volume of the trading pair is below 5 BTC for 7 days or if there is no order filled in a trading pair within 24 hours.

Last, OKEx will have a look at projects. In case there are no GitHub commits or social media updates, the plan shall be eliminated. The exchange will also have its eyes on safety and security. It will do this for ensuring that it is not risking the funds of its customers by permitting them to make investments in fraudulent blockchains.  

Related Articles

ShapeShift lays off 37 employees owing to harsh market climate

Saurabh Singla

Power tariffs for crypto miners in Iran could be a reality soon

Cryptocurrency News | Goldman Sachs faces Charge for Publishing False Statements

Apoorv Gupta (Senior Correspondent)