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Bitfinex Delists 13 Altcoins, Including LUNA, Augur, WAX and VELO

Author

Jonathan Gibson

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2 mins
Last update

Author

Jonathan Gibson

Tags

Reading time

2 mins
Last update

Author

Jonathan Gibson

Tags

Reading time

2 mins
Last update

bitfinex

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Bitfinex, one of the most popular cryptocurrency exchanges in the market, is delisting 13 atlcoins from its trading platform. As per the company, this is part of a result of continuous monitoring and review of listing qualifications (including trading activity). The announcement was made by the company in a press release a few hours ago. 

Bitfinex Delists 13 Altcoins

Bitfinex announced that they are delisting 13 tokens from their platform. These digital assets are Spookyswap (BOO), Bitcoin Gold (BTG), Enjin (ENJ), Stasis Euro (EURS), Terra Luna Classic (LUNA), PREMA (PRMX), Reef (REEF), Augur (REP2), Status (SNT), Storj (STORJ), Velo (VELO), WAX (WAX) and Zipmex (ZMT). 

The company explains that they have been carefully analysing and monitoring the market to decide which projects meet their listing qualifications. However, they don’t mention any particular reason why they have taken this decision. 

Trading activities for these currencies will stop on 11/07/2023 at 10:00 AM UTC. Users should take all the necessary measures to make sure they adapt to the new market environment. Furthermore, withdrawals will remain open until 05/09/2023. Bitfinex recommends users withdraw these tokens as soon as possible. Deposits have already been closed. 

It is worth pointing out that those users that don’t withdraw the funds before the date and time specified will be subject to Bitfinex’s Delisted Token Recovery Policy. 

The company wrote about it:

“A recovery fee may be applied, and token recovery can be attempted only up to two months following the closure of the withdrawal.”

Cryptocurrency exchanges tend to regularly check for altcoins that do not meet their minimum criteria to keep them listed. Most platforms delist tokens that have low liquidity, few traders, or that have been flagged as scams or that have been compromised, among other things.