Crypto exchange OKX will delist XRP, SHIB, and other cryptocurrencies in BTC and ETH pairs in the coming days. The company announced the decision citing listing criteria among others. The centralized crypto exchange race intensifies as platforms set sight on volume following upticks in the market.
The digital asset exchange has moved to delist a total of 40 trading pairs and 30 crypto assets in those pairs. In a new release, OKX disclosed the crypto assets to be delisted in four phases citing the need to maintain a robust trading environment resulting in monitoring of listing qualifications. Similar feedback from users and the OKX delisting guideline comes into play as trading pairs do not fulfill the criteria.
The first group of trading pairs will be delisted by the exchange on July 25. They include LTC-ETH, MATIC-BTC, ADA-ETH, FIL-ETH, LINK-ETH, OKB-ETH, HBAR-BTC, EOS-ETH, QTUM-BTC, and GRT-BTC. The next set of pairs will be delisted on July 26; ATOM-ETH, XCH-BTC, MKR-BTC, NEO-BTC, OKT-ETH, OKT-BTC, XRP-ETH, SHIB-BTC, DOGE-ETH, TRX-ETH.
Similarly, the last two groups will be delisted the following week on Aug 1 and 3 respectively. The flagged pairs include; ADA-BTC, FIL-BTC, NEAR-BTC, LINK-BTC, DOT-BTC, UNI-BTC, ETC-BTC, ATOM-BTC, EOS-BTC, AVAX-BTC, CRV-BTC, TRX-BTC, CHZ-BTC, AAVE-BTC, XLM-BTC, CRO-BTC, XRP-BTC, and DOGE-BTC.
The crypto exchange noted that it will continue to monitor these aforementioned trading pairs and implement strategies around delisting mechanisms where necessary.
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Per the announcement, OKX told users to cancel orders involving these trading pairs before the deadline to prevent an automatic cancellation.
“We will delist the above-mentioned trading pairs at the delisting times listed above. We advise users to cancel orders about these trading pairs before the delisting. Otherwise, the system will automatically cancel these orders. The cancellation may take 1-3 working days.”
The delisting of these trading pairs can reduce market confidence as seen in the last with major digital asset exchanges. Investors can access the listing of coins on centralized exchanges to determine market growth. However, less popular assets will be more affected than notable cryptocurrencies.
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