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Exchanges
Kucoin has delisted 10 digital assets, including bitcoin gold and mobius, and Huobi has put 32 trading pairs on notice. As examples for their action. But the flurry of delistings has also been added to the cryptocurrency market downturn.
Also read: Bitcoin Ebang Equipment Maker Reapplies for Hong Kong Listing
Delisting Result of Low Liquidity
Kucoin said it had "disqualified" tokens such as bread, bitclave, wepower and ethlend for the Chinese market. the so-called ST for "mandatory review over a specified period of time."
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Tokens are indicted particularly for low liquidity or when the project is faced with the risk of bankruptcy or liquidation, security breaches and other issues. "The exchange may delist … the project (if it) fails to meet the basic liquidity requirements by the end of the observation period," explains Kucoin on its "special treatment rule" page.
Any trading or deposits of the 10 delisted cryptocurrencies has now been suspended, even if withdrawals are permitted for a time. Kucoin said the decision had been taken in order to provide a solid user experience on the exchange.
Kuoin is the world's 54th largest digital currency platform by daily trade volume, with $ 20.35 million worth of coins traded in the last 24 hours, according to date from Coinmarketcap. Currently, the exchange offers over 300 token trading pairs.
Altcoins on the Brink as Markets Struggle
The rout in global cryptocurrency markets this year has left hundreds of altcoins haemorrhaging value against the U.S. dollar and struggling to retain liquidity. Many are down by 90% or more from their all-time high, making the tokens almost worthless in some cases.
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The latest Kucoin purge comes in the same week as an announcement from Huobi, the world's fourth largest cryptocurrency exchange. The tokens were cited for Huobi's version of the ST risk category.
Huobi regularly carries out the comprehensive rights and interests of investors, Huobi, and said the exchange tokens in compliance with the Token Administration Regulations of Huobi.
Huobi is to reexamine the affected assets on Dec. 26, and those that fail to meet the listing requirements will be trading under caution. Some of the affected tokens includes enigma, datum, my token, medishares, wepower, appcoins and bitcapital vendor. Salt, tieron, untrust, quantstamp, medical chain and others are also at risk of being delisted.
Do you think that you are in danger of being delisted from major exchanges? Let us know in the comments section below.
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