87 Crypto Pairs Facing Bitfinex Axe Due to Low Liquidity Levels

News / 21.03.2020

87 crypto pairs trading on the Bitfinex exchange are staring at the chop. The exchange outlined plans to delist them owing to their low liquidity levels. The move is effective March 26, 10:00 AM UTC

Optimizing Trading Experiences

According to Bitfinex, the decision was informed by the need to consolidate and improve the exchange’s liquidity. Additionally, the move will streamline and optimize trading experiences for its customers.

The firm holds that it took the decision after tracking the affected pairs for 6 weeks. It found out that they consistently returned low liquidity levels. Following the cleanup, the exchange will be able to concentrate on fewer high liquidity pairs.

Delisted Pairs

Some coins will lose their BTC and ETH pairings. These include, Bancor (BNT),DATA (DTA),Dether (DTH), WAX (SPK),SingularityNET (AGI), Request (REQ), QASH (STJ),WePower (WPR), 0chain (WAX), Polymath (RCN), Aventus (ZCN),SpankChain (ZIL), UTRUST (WPR), among others.

Those that the exchange will axe their ETH pairs only are, VeChain (VET), Dragonchain (DRN), Essentia (ESS), Enjin Coin (ENJ), Hydro Protocol ( HOT), Monolith (TKN), Content Neutrality Network (CNN), MobileGO (MGO), Melon (MLN), Kyber Network (KNC), Qtum (QTM), Decentraland (MANA), and Internet Node Token (INT), among others.

A further 10 coins will have only their BTC pairs delisted. They are, Cortex (CTX), FunFair (FUN), Fusion (FSN), Auctus (AUC), Mithril (MITH), Aelf (ELF), Cindicator (CND), Project Pai (PAI), Recovery Right Token (RRT), and Seer (SEE).

Moreover, some will lose their Tether pairs. These are ZB Token (ZB), Gatechain Token (GTX), and Dragon Token (DT). Again, Bitfinex will delist some of Verge’s fiat pairs such as XVG/EUR and XVG/GBP.

Cancellation of Orders

The exchange insists that the tokens will still be available for trading up to the 26th of March. Nevertheless, it reminds users to cancel any open orders using the listed pairings before then. The system will cancel any remaining open orders after that date.

Bitfinex is making this move for the second time this month. A fortnight ago it announced it was axing 46 trading pairs for similar reasons.

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Dacosta Osei-Tutu, a first degree holder in Nursing, who couples his Nursing career with blockchain blogging, has a great passion for the blockchain technology and aims to play a vital role in applying this revolutionary technology to disrupt the healthcare system in Africa.