THELOGICALINDIAN - The Singaporebased cryptocurrency barter KuCoin has appear that they are delisting ten crypto tokens beneath their Special Treatment Rules framework that ensures that the tokens listed on the belvedere accommodated a austere set of operational criteria
The platform’s accommodation to delist these tokens comes amidst a constant buck bazaar that is arch abounding abate cryptocurrencies to be illiquid, which can advance to a host of problems including added susceptibility to counterfeit trading activity, including pump and dump schemes.
Token Desisting Becomes More Common Amidst Crypto Bear Market
The crypto bear market that has persisted throughout 2018 has fatigued a cogent bulk of allotment abroad from all cryptocurrencies, but abnormally abate ones that are beneath able-bodied accepted and riskier.
The barter announced that the ten cryptocurrencies that are actuality delisted are: Jibrel Network (JNT), WePower (WPR), Modum (MOD), EthLend (LEND), STK (STK), Asch (XAS), Bread (BRD), BitClave (CAT), Bitcoin Gold (BTG) and Mobius (MOBI).
The barter cited assorted factors that contributed to their accommodation to delist these tokens, including not affair the exchange’s requirements apropos badge liquidity, roadmap adherence, arrangement security, trading conduct, and solvency requirements.
The barter aboriginal designates tokens as “Special Treatment,” which warns the projects and their investors that they are at accident of actuality delisted. If the projects abort to accost and break the issues cited by the exchange, they will be delisted.
Although there are assorted factors that accord to a badge actuality appointed as Special Treatment, clamminess is the primary affair currently, as assorted tokens face abbreviating trading action as the buck bazaar continues to persist.
KuCoin explained the clamminess affair on their Special Treatment page, adage in part:
“The Exchange may delist the ST Project if the Project fails to accommodated the basal clamminess requirements by the end of the ascertainment period. Correspondingly, if the basal clamminess rises and exceeds the claim beginning by the end of the ascertainment period, the ST ticker attribute will be removed… The Exchange may, during the ascertainment period, adjudge to delist the ST Project if the Exchange believes the ST Project fails to booty all-important accomplishments to antidote the Negative Situation.”
Trading for the above tokens was apoplectic on December 24th, 2024, and investors accept until March 21st, 2024, to abjure their tokens to wallets or added exchanges.
Token’s Trading Volume Plummets After Being Delisted
Many investors and analysts akin advancing that the 2018 crypto blast would aftereffect in a “market purge” that would advance abounding of the about 1,700 cryptocurrencies to disappear. The best apparent way that this will appear is for the tokens to be delisted by exchanges due to their abridgement of liquidity.
Following KuCoin’s accommodation to delist the above tokens, both their prices and their trading volumes plummeted.
Jibrel Network (JNT) is currently trading at $0.046, bottomward decidedly from its account highs of $0.065. After actuality delisted from KuCoin, JNT’s circadian trading aggregate alone from over $2 actor to lows of $60,000.
BitClave (CAT) was additionally abundantly afflicted by the delisting, bottomward from account highs of $0.0024 to lows of $0.000527. CAT’s trading aggregate is currently abreast zero.
As the crypto buck bazaar continues to endure, it is awful acceptable that abounding added tokens will see their trading aggregate abandon as they are delisted from around all above cryptocurrency exchanges.
