OKX to Delist 6 New Trading Pairs Based on User Feedback

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As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed numerous changes and adaptations that have shaped the industry landscape. The recent decision by OKX to delist several trading pairs is not unprecedented, but it is a clear sign of maturation within the cryptocurrency exchange sector.

OKX, a leading cryptocurrency exchange, has announced its intention to remove some trading pairs from its platform. The decision is aimed at fostering a thriving digital asset ecosystem within the blockchain industry by improving the overall liquidity and enhancing the quality of user trading experiences.

OKX Advises Users to Take Action

The OKX team responsible for risk management thoroughly examined the platform’s guidelines regarding concealing tokens and offline trading pairs. Following the completion of their analysis, they decided to discontinue the trading pairs FITFI/USDT, GARI/USDT, XPR/USDT, AKITA/USDT, TAMA/USDT, and WNCG/USDT effective August 30, 2024, between 4:00 and 4:30 p.m., UTC+8 time zone.

Consequently, if you have any pending orders related to the mentioned currency pairs, it’s recommended to cancel them before the specified date. Failing to do so may result in those orders being executed automatically within 1 to 3 days. However, for digital currencies, withdrawals remain available until November 30, which is three months following the delisting process.

Users are encouraged to transfer their cryptocurrencies (FITFI, GARI, XPR, AKITA, TAMA, and WNCG) from their accounts before November 23 to prevent potential losses. Deposits for these coins have been halted on OKX since August 22, and the exchange does not intend to resume them, even after the delisting process.

It’s important to mention that the choice to remove these trading pairs stems from user feedback and complaints, as they either contravened OKX’s offline rules or presented significant risks.

The most recent update coincides with a one-month mark since OKX made public their choice to eliminate certain Bitcoin (BTC), Ethereum (ETH), and XRP trading pairs. As shared previously, this removal was carried out in stages over a period of roughly seven days.

Here are some of the de-listed trading pairs that aren’t ranked: LTC–ETH, MATIC–BTC, ADA-ETH, FIL-ETH, LINK-ETH, OKB-ETH, ATOM-ETH, XCH-BTC, MKR-BTC, NEO-BTC, OKT-ETH, ADA-BTC, FIL-BTC, NEAR-BTC, LINK-BTC, DOT-BTC, UNI-BTC, ETC-BTC, AVAX-BTC, CRV-BTC, TRX-BTC, CHZ-BTC, AAVE-BTC, XLM-BTC, and CRO-BTC.

Binance Joins OKX on Delisting Trend

In a similar vein, the top digital currency exchange, Binance, recently removed six trading options. These changes affected tokens such as PowerPool (CVP), Ellipsis (EPX), ForTube (FOR), Loom Network (LOOM), Reef (REEF), and VGX Token (VGX). Deposits for these cryptocurrencies will be closed by August 27, while withdrawals will end on November 26.

Typically, these platforms regularly carry out delistings as part of their standard review and management procedures. Binance frequently performs such actions, particularly when cryptocurrencies don’t maintain the required industry standards and regulations over time.

As an analyst, I can share that when a digital asset falls short of our standards or if the industry environment shifts significantly, we undertake a comprehensive reassessment. In such instances, we may decide to remove the asset from our platform. Our primary goal is to offer top-tier services and robust protections for our users, while also being agile in responding to changing market conditions.

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2024-08-23 14:03