After OKX announced that it would remove 10 types of tokens such as SOC from the shelves, most of the currencies on the shelves plummeted by more than 50%
On March 22, OKX announced that it would remove the USDT trading pairs of BTG, CHAT, CVT, EVT, PAY, PPT, ROAD, SFG, SOC, and CNTM from the market according to the listing standards
On March 22, OKX announced that it would remove the USDT trading pairs of BTG, CHAT, CVT, EVT, PAY, PPT, ROAD, SFG, SOC, and CNTM from the market according to the listing standards. The removal time is 08:00 UTC on March 29.
After OKX announced that it would remove 10 types of tokens such as SOC from the shelves, most of the currencies on the shelves plummeted by more than 50%
1. Introduction
2. The Reason for OKEx’s Decision to Remove USDT Trading Pairs
3. An Overview of the Cryptocurrencies Affected by the Delisting
4. What This Means for Traders
5. The Impact on the Cryptocurrency Market
6. OKEx’s Future Plans
Article: OKEx Announces Removal of USDT Trading Pairs
On March 22nd, OKEx, one of the leading digital asset exchanges globally, announced that it would remove the USDT trading pairs of several cryptocurrencies, including BTG, CHAT, CVT, EVT, PAY, PPT, ROAD, SFG, SOC, and CNTM from the market. The scheduled delisting time is 08:00 UTC on March 29th, which gives traders one week’s notice to adjust their portfolios accordingly.
The Reason for OKEx’s Decision to Remove USDT Trading Pairs
The move is in line with OKEx’s listing standards, which require cryptocurrencies to meet various criteria to retain their position on the exchange. In particular, OKEx considers the project’s technical quality, community support, legal, and regulatory compliance, and market liquidity. The exchange periodically reviews listed coins and removes those that no longer meet its standards.
An Overview of the Cryptocurrencies Affected by the Delisting
The cryptocurrencies set to be removed from the market may not be very popular among traders. For instance, EVT (EveriToken) is a blockchain-based project that aims to issue digital assets on the blockchain securely. PayAccept (PAY), on the other hand, is a decentralized finance (DeFi) project that provides a multi-currency wallet and payment gateway on the Ethereum blockchain. While users of these platforms may see the delisting as a blow to their projects, the overall impact on the market may not be significant.
What This Means for Traders
For traders who hold these cryptocurrencies or have open trades in the affected trading pairs, they will have to close their positions or convert their holdings to other cryptocurrencies on the platform. To make the process easier, OKEx has provided a window of one week, which should be enough time for users to take the necessary actions.
The Impact on the Cryptocurrency Market
The delisting of these coins from OKEx may not have a significant impact on the overall cryptocurrency market, given that most of these projects have not gained much traction among investors. However, it could be a severe blow to the projects affected by the delisting, especially those that are still relatively new.
OKEx’s Future Plans
OKEx has indicated that this is not the first time it has removed certain cryptocurrencies from its platform, and it may not be the last. The exchange has stated that it intends to continue reviewing its listing standards periodically to ensure it only supports quality projects that meet its set standards.
In conclusion, the removal of USDT trading pairs of BTG, CHAT, CVT, EVT, PAY, PPT, ROAD, SFG, SOC, and CNTM from OKEx’s platform may not have a significant impact on the overall cryptocurrency market. However, it’s worth noting that this move is part of the exchange’s efforts to maintain high listing standards and support solid projects that meet their criteria. For traders who may be affected by the delisting, they should take advantage of the one-week notice provided by the exchange to make the necessary adjustments to their positions.
FAQs
1. Will the removal of these trading pairs affect other cryptocurrencies’ prices?
– It’s unlikely that the delisting will have a significant impact on other cryptocurrencies’ prices, given that the affected coins are relatively unknown to most investors.
2. Can I still trade these cryptocurrencies on other exchanges?
– Yes. If you hold any of the cryptocurrencies set to be delisted, you can still trade them on other exchanges that support them.
3. How often does OKEx review its listing standards?
– OKEx reviews its listing standards periodically to ensure they continue to support quality projects that meet their set criteria.
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