Cryptocurrency exchanges continuously add new currencies and trading pairs to remain competitive. Every so often, some of those listings need to be revised or removed altogether to free up the necessary resources. OKEx users may notice a fair few tokens are getting delisted, although this will not necessarily make too much of an impact. It is also worth noting how most of these currencies are traded against OKB, which will always remain a minor trading market in its own right.
The Unknown Coins
With the cryptocurrency industry now spanning nearly 8,000 different projects, it is impossible to keep tabs on everything. As such, the list of currencies to be delisted from OKEx include a fair few names most enthusiasts and traders might have never heard of. Some examples include UGChain, CAI, Origin Sport, LinkEye, Delphy, and Refereum. A fair few of these tokens were only traded either Ethereum or OKB, thus it was seemingly a matter of time until they would get removed altogether. It seems a fair few of these never even generated decent trading volume, thus their shelf life was compromised from day one.
For the users who have any of these tokens as part of their OKEx balance, it is pertinent to withdraw them as soon as possible or simply convert them to a different currency while it is still possible for a few days. As most of these tokens are rather unknown, it seems unlikely that any major issues will arise regarding withdrawals or conversions. Listing dozens of tokens and assets every year is one thing, but one has to wonder if some of these should have been added to the exchange in the first place.
The Surprising Names
Although most of the tokens on this list won’t ring a bell, there are quite a few notable exceptions. It quickly becomes apparent all of these big names were either issued through an initial coin offering, airdrop, or have a premine of sorts. The list includes names such as Viberate, Golem, Populous, TenX, Revain, Ark, and BitKan. These currencies will have their ETH and/or OKB trading pairs removed on August 5, which seems to confirm the exchange doesn’t want to get caught up in any regulatory trouble down the line.
Over the past year, numerous cryptocurrency exchanges have begun delisting tokens issued through airdrops, ICOs, or with a hefty premine. In the first two cases, this is more than likely due to regulatory uncertainty affecting all of these markets, especially in the United States. Until that situation changes, it wouldn’t be surprising to see even more trading platforms delist a fair few tokens over the coming months. One also has to keep in mind this may not be the final delisting of tokens ok OKEx in 2019, although nothing has been officially confirmed at this time.
Top Markets are Still Standing
When looking at the current list of OKEx’s trading markets, it is apparent the top cryptocurrencies are the main focus for traders and speculators. Bitcoin, Ethereum, and Bitcoin Cash are all in the top three, with Litecoin, EOS, Bitcoin SV, and Tron also in the top 10. It is interesting to see the OKB/USDT pair generating a lot of volume lately, although that may come to change now that these tokens and assets will be removed in the very near future. Although this token can still have value beyond trading against altcoins, one has to wonder what effectively drives the demand at this time.
Speaking of the top currencies traded on OKEx, one has to wonder why XRP struggles to generate any real volume. Its USDT and BTC pairs combine for %20m in daily volume, which is not that impressive, all things considered. Ethereum, in comparison, generates over $85m, with Bitcoin Cash, Litecoin, EOS, and Bitcoin SV surpassing XRP in volume as well. It is a very peculiar trend to keep an eye on, albeit XRP has always noted far less volume compared to Bitcoin and Ethereum.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.
The post OKEx Cleans House as Dozens of Trading Markets Will be Delisted appeared first on The Merkle Hash.
Source: The Merkle
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