With several crypto exchanges cleaning up their shelves and dropping off redundant tokens from their list of tradable tokens. Another cryptocurrency exchange, OKEX has taken its own step towards cleaning its list. OKEK will be deleting 58 tokens, linked to 42 digital assets/tokens.
58 Tokens to be Deleted by OKEX
As a result of this, instead of having the tokens totally taken off the dashboard, users will have some carefully selected list of 58 trading pairs taken off its list of available trading pairs.
Ever since the exchange made it known that it would be delisting these 58 trading pairs, the action has been linked to that of Binance which recently deleted four popular tokens and their various trading pair from its platform. It was believed that OKEK had taken a more subtle approach towards getting rid of redundant trading pairs on its platform.
OKEK has however stated its reasons for making this move at this particular point in time. The exchange made it known that it has two major reasons for selecting a trading pair for deletion. The first reason given is weak liquidity.
The second reason is that the trading volume of these trading pairs is too low to continue supporting them on the platform. This means the affected trading pairs are not having enough traders.
OKEK Set a Deadline
OKEK has also made it known that it will also be deleting some tokens completely later on. However, it has not given a list of the token to be deleted. However, this exchange has named Bytecoin (BCN) as a likely candidate.
OKEK has given a deadline of 6 am, 31st October, Central European Time (GMT + 1 ), for the removal of these pairs from its platform. The exchange further advised it, users, to cancel their orders of the affected pairs before the deadline. It warned that in case orders were not cancelled before the deadline, the system will cancel them and the digital assets will be credited to the users’ trading accounts