Binance, one of the world’s leading cryptocurrency exchanges, has announced it delist thirty trading pairs from its platform. One-fifth of these include tokens launched through its initial exchange offerings (IEOs).
According to the exchange’s announcement, notable trading pairs including cryptoassets launched in its IEO platform – including BitTorrent’s BTT, Elrond (ERD), Harmony (ONE), and WINk (WIN) – are being delisted to “improve liquidity and user trading experience,2 and were chosen “as requested by most project teams.”
The delisted trading pairs featuring IEO tokens are:
ANKR/PAX, ANKR/TUSD, ANKR/USDC, BCPT/PAX, BCPT/TUSD, BCPT/USDC, BTT/BTC, DENT/BTC, DOGE/PAX, DOGE/USDC, ERD/PAX, ERD/USDC, FTM/PAX, FTM/TUSD, FUEL/ETH, GTO/PAX, GTO/TUSD, GTO/USDC, LUN/ETH, NCASH/BNB, NPXS/BTC, ONE/PAX, ONE/TUSD, PHB/PAX, PHB/USDC, TFUEL/PAX, TFUEL/TUSD, TFUEL/USDC, WAVES/PAX, WIN/BTC.
Trading pairs are more often than not delisted from cryptocurrency exchanges because of poor trading volume, as low-liquidity means bad actors are able to manipulate the market via pump and dumps. These affect the reputation of both the token and the exchange. The delistings are nevertheless notable.
After the IEO trend started various crypto exchanges started their own token ale platforms, including some of Binance’s biggest competitors, like OKEx. Its competitor hasn’t so far delisted any of the tokens sold via their IEO platforms.
OKEx, as CryptoGlobe covered, has supported the launch of the enterprise-focused network Hedera Hashgraph and as listed its HBAR token in September of this year. Hashgraph’s mainnet launched later that month, with 26 decentralized applications.
The network reportedly has a faster consensus algorithm than the blockchain used by Ethereum and Bitcoin, and claims to be capable of supporting up to 10,000 transactions per second.
Other projects the exchange hosted on its IEO platform, OKEx Jumpstart, include that of UK-based, FCA-regulated fintech company Wirex, which innovated by offering a crypto and traditional currency integrated Visa card. Its token, WXT, was designed to “help users access unique rewards and save on fees.”
OKEx Jumpstart also launched projects like Pledgecamp (PLG), a “crowdfunding 2.0” platform, and of X-power Chain (XPO), a “cloud screen ecosystem based on self-developed public chain.”