Nov 27, 2018 18:17 UTC
Nov 28, 2018 at 14:30 UTC
Trading Pairs To Be Delisted By OKEx Over Concerns Of ‘Weak Liquidity’
If you are active in the crypto trading market, in all probabiliy you have heard of the major Hong Kong-based cryptocurrency exchange OKEx. It has been termed as the world’s second largest cryptocurrency exchange by trading volume and markets served.
The major exchange has recently declared that it will be delisting a second wave of trading pairs due to “weak liquidity”. It has already announced in a Press Release in October that it will be delisting 42 cryptocurrencies and 58 trading pairs by the end of November.
Back on October 31, the exchange had removed the first wave of pairs and tokens. It has now further announced that it will be delisting a further 49 trading pairs from its order book.
Stating as justification for this move, the exchange has stated that it is trying to “protect the interests of its users.” They further added.:
“We will strictly monitor all listed projects and implement the delisting / hiding mechanism for substandard projects when necessary.”
Their policy will supposedly “create a robust trading environment and offer the best trading experience” for traders. It seems that this move is a carefully thought out policy of offering more quality options to the traders on the platform, while vetting the assets that are not profitable anymore.
The delisting will come into effect at 5 a.m. CET Nov. 30. It seems that few of the assets will lose specific trading pairs, while withdrawals of 26 tokens will altogether disappear. OKEx has a stellar reputation,so this move is definitely well planned and already thought out keeping in mind how it could play to the public.
The exchange has already added some new listings to maintain the balance and counter their delisting propensities. Earlier this month, it was revealed that OKEx is also venturing into Latin American markets.