In an attempt to offer the best trading experience to its users and to create a robust trading environment, crypto exchange OKEx has decided to clean its closet by delisting 42 trading pairs on October 31. These trading pairs to be delisted are the ones with weak trading volume and liquidity, as per the exchange’s token delisting guideline.
Head of Operations at OKEx Andy Cheung said in his statement that getting listed on a platform is not the end of the road. It is, in fact, important to maintain its good performance. He further added that it is the exchange’s responsibility to ensure a robust ecosystem for its projects to grow and to provide the best trading environment for its users.
Hundreds of altcoin are on the verge of collapsing owing to the rout in cryptocurrency markets this year. A lot of altcoins are down by 90 percent or more from their all-time high. This has made them almost worthless in the market. OKEx’s latest purging announcement comes just a few months after it decided to delist 28 trading pairs from the platform when they reached their delisting thresholds.
Crypto exchange OKEx is the world’s second-largest digital currency platform in terms of its daily trading volume. The exchange recorded $470 million worth of coins being traded in the last 24 hours, as per the data from CoinMarketCap. Presently, the exchange offers over 400 tokens and futures trading pairs including index trackers, as reported on Bitcoin News.
The exchange in a separate online statement cautioned its users that they must cancel their orders of the impacted pairs from its platform. It also mentioned that in case their order is not canceled in time, the system will automatically cancel the order and their asset will be credited to their trading account.
OKEx stated that only those trading pairs with weak liquidity and trading volume will be delisted but not the tokens themselves. Users can normally trade other satisfactory trading pairs. The exchange stated that it will be strictly monitoring all projects and implement the delisting for substandard projects as and when required.
Crypto exchange OKEx reminded its users that trading digital assets involve risk and thus they must ensure that they understand the risks and the mechanism involved. It urged the users in a statement on its official website to always consider their investment ability and risk tolerance before entering the market.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]