Bitfinex digital currency exchange is set to remove 87 trading pairs that have consistently witnessed low levels of liquidity. The exchange will delist the pairs in a step that it believes will streamline the trading experience and improve its overall liquidity.
The 87 pairs will be available for trading until March 26. Users with any open orders with these trading pairs are advised to cancel them before this date. Any remaining open order will automatically be cancelled by the system.
Pairs related to Ether include Kyber Network, Decentraland, Qtum, VeChain, Gnosis, Dragonchain, Monolith, Hydro Protocol, MobileGO, Rate3, Melon, Sentient Coin, MedicalChain, Commerce Block, WaltonChain and ABYSS. Those related to BTC include Cortex, Project Pai, FunFair, Cindicator, Recovery Right Token, Aelf, Mithril, Auctus and Fusion. Pairs related to both Ethereum and BTC will also be axed, including Dether, SingularityNET, Bancor, Polymath, 0chain, SpankChain, Storj and Aventus.
The exchange will also delist three pairs trading against Tether, including GateChain Token, ZB Token and Dragon Token. Others are Verge/Euro and Verge/GBP.
“The decision was taken after monitoring [the pairs] for six weeks and finding a consistent low level of liquidity. We take this type of action to concentrate trading in fewer pairs,” the exchange told Cointelegraph.
The announcement comes just three weeks after the exchange axed yet another 46 trading pairs, once again due to low liquidity. They included Verge, Atonomi, Loom Network and Lympo, all trading against Ethereum; AidCoin, Everipedia, Nucleus Vision and BLOCKv—all trading against BTC. It also delisted OmiseGO and 0x which traded against DAI and the Verge/JPY trading pair.
The delisting is testament to the reducing interest in the hundreds of digital currencies that sprung up in 2017 when the market hit all-time highs. Paolo Ardoino told The Block that most of the projects that sprouted in the ICO phase have now lost traction and that the delisting will continue until only a few liquid pairs are left.
Other exchanges that have axed digital currencies include Crex24 which delisted BetMatch, Proeliocoin, StakeCube and Greencoin; IDEX which delisted Fabric Token, Algory and Unibright; and OKEx which delisted ProChain, ShowCoin, InsurChain and EDGE.
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