Cryptocurrency exchange OKX, which recently made a collective delisting decision with 49 altcoins, is parting ways with 13 more projects today.
OKX has decided to delist these 13 altcoins
Popular centralized cryptocurrency exchange OKX has announced that it will permanently delist leveraged trades of the following trading pairs starting April 18. According to the official announcement, delist reports that its decision is to “improve market liquidity and overall user experience.” The trading pairs to be delisted as of April 18 are as follows:
IOST/BTC, KNC-BTC, LRC-BTC, BAT/BTC, ENJ/BTC, THETA-BTC, WAVES-BTC, XTZ-BTC, XCH-BTC, ALPHA/USDT, CEL-BTC, SNT-USDT and NSA/ BTC.
The leveraged trading feature of the respective trading pairs will be disabled from April 11th. cryptocoin.com As we reported, OKX made another massive delist move with 49 altcoins yesterday.
How did altcoin prices react to the delist news?
Basic Attention Token (BAT), which is among the top 100 by market cap, fell 1.5% after OKX decided to halt trading on the BAT/BTC pair. Enjin Coin (ENJ), which is delisted in the BTC pair, is also down by around 1.4%.
XTZ, WAVES, and THETA were up 2.5% at the time of the news. The Delist news did not cause a major devastation on crypto prices in general.
Why were they delisted?
OKX explained the reasons behind the delist decision to a user’s question on Twitter:
To ensure a strong and reliable spot trading ecosystem, we constantly monitor the performance of all listed projects and regularly review their eligibility for listing. Taking into account feedback from users and following the OKX Token Delisting / Hiding Guide, we will remove certain projects from our list that do not meet our listing criteria.
OKX has a set of rules called the delist policy, in which a token can be removed from the exchange list if these rules are not followed. The outline of OKX’s delist policy is as follows:
- Fraudulent transactions or fake volume: If a token tries to manipulate its price or volume using fraudulent transactions or fake volume, OKX may unlist that token.
- Vulnerabilities: If a token has a threatening vulnerability and proper precautions are not taken, OKX may list that token.
- Legal compliance: If a token supports an illegal project or activity, OKX may list that token.
- Low liquidity: If a token’s trading volume or liquidity is too low, OKX may list that token.
- Being in development: If a token is in development and its project is not developed enough, OKX can list that token.
- Community support: In the absence of a token, community support or interest, OKX may list that token.
- Other factors: OKX reserves the right to update and change the delist policy and states that other unspecified factors may also affect the listing or delist decision.
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