The world’s fifth largest digital currency exchange OKEx has recently delisted 30 crypto trading pairs from its platform.
Since the crypto market’s unprecedented bull run in December 2017, a plethora of altcoins has since proliferated, with now over 2,000 different digital currencies now indexed on CoinMarketCap. With the surplus of new digital assets having little to no trading value, crypto exchanges have since been prompted to snip off their listings every now and then to eliminate a number of dead weight altcoins.
In its latest announcement, Hong Kong-based OKEx has disclosed that it was pruning 30 altcoin trading pairs from its crypto trading platform, stating that:
“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.”
On top of the enumerate trading pairs, the exchange is also delisting a number of cryptocurrencies, including 1ST, AMM, ATL, AVT, BRD, CAG, CBT, CIT, DAT, DENT, DNA, DNT, ICN, LA, LEV, MAG, MTL, NGC, OAX, QVT, REQ, SAN, SUB, UKG, VEE, and WRC.
The exchange’s move to cut down its trading pair listing comes after its previous announcement in October, disclosing the addition of four new stablecoin pairings to its platform. Conversely, OKEx has also subsequently delisted 50 altcoin pairings.
While OKEx recently bagged the Crypto Exchange of the Year award during the previously held Malta Blockchain Awards, the exchange’s recent update to its terms on derivatives has sparked widespread scrutiny among traders who have since sustained significant losses over the exchange’s decision.