Cryptocurrency Exchange

Hong Kong-based OKEx to Delist Several Trading Pairs Due to Weak Liquidity, Trading Volume

Leading Hong Kong-based cryptocurrency exchange OKEx has revealed its decision to delist a ‘second wave’ of trading pairs as a result of ‘weak liquidity and trading volume.’ The exchange had removed the ‘first wave’ of pairs and tokens on October 31.

OKEx is committed towards creating a robust trading environment and offering the perfect trading experience to its users. With this goal in mind, OKEx unfurled an extensive list of weak trading pairs and announced that these would be delisted from its platform at 05:00 on Nov 30, 2018 (CET).

The exchange has, therefore, urged its users to cancel their orders of the affected pairs from its platform. If the order is not canceled in time, the order will be nullified by the system and the relevant assets would be credited to users’ trading account.

OKEx also asked its users who hold VEE, LEV, AVT, CBT, WRC, QVT, MTL, DNA, DNT, OAX, 1ST, CAG, UKG, BRD, SAN, ICN, ATL, SUB, REQ, NGC, AMM, LA, DENT, CIT, DAT, or MAG, to withdraw their tokens immediately from its platform and transfer them to other platforms or to their wallet. The withdrawals of the tokens as mentioned above would be closed from 05:00 on Dec 14, 2018 (CET).

The exchange assured that “We will strictly monitor all listed projects and implement the delisting/hiding mechanism for substandard projects when necessary.” While at the same time cautioning users that “trading digital assets involves significant risk and make sure you fully understand the mechanism and risk involved. You should always consider your investment ability and risk tolerance before entering the market.”

In an attempt to maintain their position in the crypto market and widen their expanse, OKEx Group has been seen indulging in interesting ventures. One such recent significant move has been the group’s foray into the Latin American markets with a Fiat-to-crypto Exchange. OKGroup launched its services in Latin America through a newly formed OKCoin Exchange which offers Fiat-to crypto services. Initially, investors are able to buy cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple, Litecoin, Zcash, and 0x. Several more are expected to be added soon.

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