Bitfinex, one of the largest cryptocurrency exchanges in the market, has decided to delist 10 altcoins, including Mirror Protocol and Oasis Network.
Bitfinex has decided to delist these 10 altcoins
The central cryptocurrency exchange announced that it will delist 10 altcoin projects that have been among investors from its official Twitter account in the past hours. Related cryptocurrencies will be removed from Bitfinex’s list from March 7th. Users are required to terminate all transactions on these cryptos by April 11th. According to the official announcement, the cryptocurrencies that will be delisted from March 7 are as follows:
- AllianceBlock (ALBT)
- Anchor Protocol (ANC)
- Everipedia (IQ)
- KardiaChain (KAI)
- Mirror Protocol (MIR)
- Oxygen (OXY)
- Oasis Network (ROSE)
- BLOCKv (VEE)
- Xriba (XRA)
- Zus (ZCN)
According to the official announcement, deposits for ANC, IQ, KAI, MIR, OXY, ROSE, VEE, XRA and ZCN will be suspended from today. Deposits and trading for ALBT were suspended on February 2. According to the latest announcement, trading for the mentioned 10 cryptocurrencies is being closed from March 7th.
How about the price?
Bitfinex’s mass delisting decision did not trigger a huge sell-off on the respective altcoins. BLOCKv (VEE) was the biggest loser, down nearly 9%. Other names on the list are moving sideways at the time of the announcement, some in the green, some down below 5%.
Why are altcoin projects being delisted?
According to Bitfinex’s statement in the official announcement, “This decision was made as a result of our continuous monitoring of all listed projects and reviewing their listing qualifications.”
cryptocoin.com As we have reported, Bitfinex had previously made a collective delist decision. In the announcement dated February 23, it was announced that SENATE/USDt, SPELL/USDt, SXX/USDt, ZRX/BTC, RBT/BTC, DAI/ETH, IOT/ETH and ZRX/ETH will be delisted. Regarding the delist decision, the exchange stated, “The removal of these pairs will serve to consolidate and improve liquidity on Bitfinex, leading to a more streamlined and optimized trading experience for our users.”
Bitfinex’s collective delisting decision came at a time when tensions were growing between exchanges. Recently, US-based cryptocurrency exchange Coinbase reported that it has removed BUSD from its platform. Meanwhile, the U.S. Securities and Exchange Commission (SEC) sued Paxos for listing the Binance USD (BUSD) coin, and the New York Department of Financial Services ordered a halt to the printing of new BUSD. Another centralized exchange, Kraken, recently settled with the SEC after being accused of its “staking-as-a-service program.”
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