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The Hong Kong Stock Exchange announced on the 25thth in October at 06:00 CET, 31st in October, they will stop trading 42 pairs of cryptocurrencies. Users have been warned that they should cancel their orders involving these couples from the platform.
A cryptocurrency trading pair describes the officially granted exchange of one type of cryptocurrency for another. For example, the token Ethereum (ETH) and Bitcoin (BTC) constitute a trading pair. You can buy ETH with BTC or vice versa. This can provide several advantages over trading with standard fiat currency.
For example, if the value of Bitcoin has increased by 10% and the value of Ethereum has remained unchanged, the purchasing power of Bitcoins has increased. You would be able to buy more Ethereum for the same amount of Bitcoins. This is contrary to the legal currency, whose purchasing power remains unchanged.
However, not all trading pairs have an advantage. The cryptocurrency market has gone through a bearish trend for almost the entire year. The cryptocurrency application is low and therefore it seems that OKEx is having difficulty keeping some trading pairs that have a particularly low demand.
A trading pair describes the officially granted exchange of one type of cryptocurrency for another. For example, the token Ethereum (ETH) and Bitcoin (BTC) constitute a trading pair. You can buy ETH with BTC or vice versa. This can provide several advantages over trading with standard fiat currency.
For example, if the value of Bitcoin has increased by 10% and the value of Ethereum has remained unchanged, the purchasing power of Bitcoins has increased. You would be able to buy more Ethereum for the same amount of Bitcoins. This is contrary to the legal currency, whose purchasing power remains unchanged.
In their announcement, OKEx quotes trading pairs to be removed from the list as having weak liquidity and trading volume. Andy Cheung, Head of Operations of OKEx, has deepened the reason for this delisting:
Getting listed is not final. Maintaining a good performance is the key to success. @OKEx_ , our highest responsibility is to ensure a robust ecosystem for the growth of our projects and the best trading environment for our users to experiment. https: //t.co/SpHrlMl1CX
– Andy Cheung OKEx (do not give OKB) (@ AndyC0125) October 26, 2018
This announcement comes after the news that at the start of this month, OKEx had added four new stablecoins to be listed on their platform.
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