Major Hong Kong-based cryptocurrency exchange OKEx will delist over 50 trading pairs with weak performance, according to an announcement published Oct. 25.
As per the announcement, at 6:00 am Oct. 31, 2018 CET, the exchange will halt the trading of a swathe of pairs that they cite as having weak liquidity and trading volume. The exchange warned users that they should cancel their orders of the affected pairs from the platform.
OKEx also made a point of noting that it will delist only the indicated trading pairs, but not the tokens themselves.
Andy Cheung, Head of Operations at OKEx, called the move “housekeeping” in a tweet today, Oct. 27, saying about OKEx and other top exchanges:
“As leaders, we are responsible for promoting a robust ecosystem,We need to take action on those underperforming tokens now.”
In a tweet announcing the delisting yesterday, Cheung also noted:
“Getting listed is not final. Maintaining a good performance is the key to success.”
Earlier this month, OKEx announced the listings of four stablecoins at once – TrueUSD (TUSD), USD Coin (USDC), Gemini Dollar (GUSD), and Paxos Standard Token (PAX).
Founded in 2014, OKEx is at press time the world’s largest cryptocurrency exchange in terms of adjusted trading volume, seeing around $402.5 million in trades over the past 24 hours.