Okex announces the delisting of 42 cryptocurrency trading pairs
Okex cryptocurrency exchange established in Hong Kong is about to delist upto 42 trading pairs from October 31st, as they were unable to keep up to the minimum listing requirements. Most of the tokens and coins associated with Bitcoin (BTC) like Iconomi and Prochain, have been labeled with poor liquidity and low trading volumes. The company believes this move would lead to a sturdy trading scenario.
Andy Cheung (Head of Operations at Okex) stated in the latest email, “Being listed is not the final step, keeping up high productivity and efficiency plays a major role to success.” She further added, “Housekeeping is important, our main responsibility should be to maintain a robust environment in the market to expand and provide the most suitable trading experience to our users.”
“We have to admit that there are projects and projects in the blockchain space, and some are underperforming against our expectations. That’s why we had to take some action to deal with this problem,” states by Andy Cheung.
Okex is one of the biggest cryptocurrency exchange worldwide and ranked 2nd, with an intraday trading volume of about $470 million in different tokens. At present, the exchange provides a range of 400 plus tokens and a variety of trading pairs.
In a separate online statement, Okex sends a cautionary message saying, “Users should cancel their orders of the affected pairs from our platform. If your order is not canceled in time, the order will be canceled by the system and your asset will be credited to your trading account.”
Although the exchange did point out some flaws as it added, “only the trading pairs with weak liquidity and trading volume, but not the tokens themselves, will be delisted. All listed projects will be strictly monitored by us, also we would simultaneously implement the delisting/hiding mechanism for substandard projects if required.”
According to Okex, “Once the token is delisted, our system will cancel all pending orders,” further stating that the delisting of read token was voluntary, “Read token team has applied for delisting and we have accepted the application.”