One of the largest currency exchanges in the market, OKEx, delisted more than 50 different trading pairs. The exchange is one of the largest in terms of trading volume. According to OKEx, the decision has been taken due to weak performance. The information has been announced in a blog post a few days ago.
OKEx Delists Low-Volume Trading Pairs
On October 31st, OKEx will be delisting several trading pairs from its cryptocurrency platform. Apparently, these pairs did not have enough liquidity and trading volume for the company’s standards. Additionally, the exchange warned users that they should cancel trading orders. If they don’t do it, the digital assets will be credited to the users.
Some of the trading pairs deleted are: NGC/ETH, NGC/USDT, VEE/USDT, RCN/ETH, TRA/BTC, UKG/USDT, CAN/BTC and MTL/USDT, among others. 58 different trading pairs have been affected by the ban.
The exchange explained on the matter:
“To create a robust trading environment and offer the best trading experience to our users, we will delist several trading pairs with weak liquidity and trading volume according to the OKEx Token Delisting / Hiding Guideline.”
OKEx explains that only the trading pairs listed in the blog post will be deleted. All the coins and other trading pairs will be available for trading as usual.
Furthermore, they wrote that they will be monitoring all the listed projects on the platform. If they find a project or network that does not comply with their standards, they will be implementing their delisting / hiding mechanism. According to the exchange, the main intention is to protect the interest of the users and enhance the service offered.
CoinMarketCap shows that the exchange has a trading volume of $505 million dollars in the last 24 hours. The most important trading pairs are BTC/USDT, EOS/USDT, and ETH/USDT, accounting for almost 50% of the total trading volume at the platform. Besides, it is currently listing 516 different trading pairs against USDT, ETH, and BTC.
After Binance, this is the exchange with the largest trading volume in the market.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.