- The delisting will be gradual in four batches from July 25 to August 2
- OKX said it was delisting the affected spot trading pairs to sustain trader confidence and maintain a good trading environment
- Users advised to cancel orders pertaining to the affected trading pairs before delisting
Popular crypto exchange OKX has announced the delisting of several popular spot trading pairs. This came just days after the exchange's exit from Africa’s largest crypto market, Nigeria.
The delisting will be gradual in four batches from July 25 to August 2. In a statement on its website, the exchange advised users to cancel orders pertaining to the affected trading pairs before the delisting date. The system will automatically cancel these orders if the users fail to cancel the orders themselves, the exchange warned.
The spot trading pairs delisted by OKX
According to the exchange, the pairs to be delisted on July 25, 2024, 8:00-8:30 am UTC, include LTC-ETH, MATIC-BTC, ADA-ETH, FIL-ETH, LINK-ETH, OKB-ETH, HBAR-BTC, EOS-ETH, QTUM-BTC, GRT-BTC.
The process will continue on July 26, 2024, 8:00-8:30 am UTC and the pairs to be delisted are ATOM-ETH, XCH-BTC, MKR-BTC, NEO-BTC, OKT-ETH, OKT-BTC, XRP-ETH, SHIB-BTC, DOGE-ETH, TRX-ETH.
On August 1, 2024, the pairs to be delisted are ADA-BTC, FIL-BTC, NEAR-BTC, LINK-BTC, DOT-BTC, UNI-BTC, ETC-BTC, ATOM-BTC, EOS-BTC.
The last batch of delisting will be done on August 2, 2024, 8:00-8:30 am UTC and the pairs are AVAX-BTC, CRV-BTC, TRX-BTC, CHZ-BTC, AAVE-BTC, XLM-BTC, CRO-BTC, XRP-BTC, and DOGE-BTC.
Why OKX is delisting several spot trading pairs
OKX said it was delisting the affected spot trading pairs to sustain trader confidence and maintain a good trading environment.
“In order to maintain a robust spot trading environment, we constantly monitor the performance of all listed trading pairs and review their listing qualifications on a regular basis. Based on feedback from users and the OKX Token Delisting / Hiding Guideline, we will be delisting several trading pairs that do not fulfill our listing criteria,” the exchange explained.
The exchange promised to continue to monitor all listed trading pairs and implement the delisting/hiding mechanisms as necessary.
Recall that last week, OKX announced plans to exit the Nigerian market. The exchange announced this in an email to its customers on Wednesday, July 17, 2024.
It said that starting from August 16, 2024, its customers in Nigeria would not be able to access its services or open new trading positions. However, the customers would still be able to withdraw their funds and close existing positions.
The exchange urged Nigerian users to close all P2P, options, futures, and margin positions, as well as redeem all assets from Grow Products before August 16, 2024. All assets must be transferred from OKX to the user's chosen wallet, it advised.
SEC chair Gary Gensler likely to resign after Biden’s pullout
Meanwhile, TheRadar earlier reported that the chair of the United States Securities and Exchange Commission (SEC), Gary Gensler, will likely resign after President Joe Biden’s tenure. This is according to the founder of 10x Research, Markus Thielen.
Recall that On Sunday, July 21, 2024, the president of the United States, Joe Biden, announced that he was dropping out of the November 2024 presidential election race. This means he would not have a chance to be elected for a second term, and the acclaimed rematch with the Republican Party nominee and former president Donald Trump will no longer hold.
