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BY CNA Team - October 29, 2018

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OKEx to delist 58 crypto trading pairs

OKEx axes 58 underperforming crypto trading pairs
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The lacklustre performance of the crypto markets has marked out the underperforming trading pairs of coins and tokens, with a number of them having been delisted in recent weeks.

OKEx, the Hong Kong-based crypto exchange, announced on Oct 25 that a total of 58 trading pairs of coins and tokens paired with bitcoin, ethereum and tether will be delisted from 6am, Oct 31, Central European Time. The delisting involves 42 coins and tokens.

It says that the delisting is being done to create a robust trading environment and offer the best trading experience to users as these trading pairs have weak liquidity and trading volume according to the exchange’s token delisting/hiding guideline.

Hidden tokens can still be traded except that an exchange will not display these tokens on trading lists and charts.

“Please note that only the trading pairs with weak liquidity and trading volume, but not the tokens themselves, will be delisted,” it adds.

The exchange says all listed projects will be strictly monitored and the delisting/hiding mechanism for substandard projects will be implemented when necessary.

OKEx in early August hid 46 coins and tokens as well as delisted 28 trading pairs.

EY, which recently published a report on initial coin offerings (ICOs), noted that investors who purchased a portfolio of the coins and tokens it studied in a December report would have lost 66% of their investments between the beginning of the year and Sept 2.

It says 86% of the ICOs from last year’s report were now below their listing price while 30% have lost substantially all value.

Image courtesy of OKEx website.

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