Digital asset exchange OKEx have announced that they will be removing 38 cryptocurrencies (49 trading pairs) by the end of the month. The delisting will take place on November 30, 2018, at 05:00 CET. The cryptocurrencies to be removed include BRD, DENT, KEY, OST, and many more.
The removal is OKEx’s third delisting batch this year. As previously reported by CryptoGlobe, OKEx has been routinely cleaning up their exchange, making sure inactive trading pairs are removed.
Last month, they announced the wiping of 42 cryptocurrencies across 58 trading pairs. Before this, their first round of removals delisted 28 trading pairs and 20 cryptocurrencies. This means that between the three rounds, a total of 135 trading pairs have been delisted from their exchange.
OKEx’s Delisting Policy
OKEx has published an extensive “Token Delisting/Hiding Policy” that explains OKEx’s analysis process prior to delisting coins. In this procedure, they look at a handful of factors that determine the future of the cryptocurrency.
First they look at the team. If there are any major changes in staff or business model, or the team is facing any legal issues, they are liable to be removed. Second (and argubly most importantly), OKEx reviews token trading volume. Their policy on volume is if “the average daily trading volume of a trading pair is lower than 5 BTC for 7 days consecutively or no order is filled in a trading pair within 24 hours.”
Lastly, they look at the project itself. If there are no social media updates or GitHub commits, the project stands to be removed. OKEx also looks at security and safety, to ensure that OKEx isn’t risking customer funds by allowing them to invest in faulty blockchains.