On the crypto front, things are definitely not the way they were last year.
The bulls were pushed back in 2018 and the bears took over the market. Peaking in terms of the market capitalization at $850 billion, it’s been a downhill since there. Month-on-month, the prices of crypto coins have fallen in 2018.
However, things have been changing since the last month or so. While Crypto space, as a whole, was considered to be highly volatile until a few months ago, the scenario has changed completely.
Despite numerous braces with the $6000 mark, Bitcoin has been able to hold up above that level. Overall, the volatility among other coins has also significantly decreased.
On Friday, Bloomberg highlighted Bitcoin’s lack of volatility, stating that October 2018 was the least volatile for eighteen months. Commentators claimed this was a sign the leading coin was nearing its bottom.
At press, Bitcoin is up by 0.08% in the last 24 hours and Ethereum is down by -0.07%.
Amidst all this, World’s largest Hong Kong-based cryptocurrency exchange OKEx will delist over 50 trading pairs with weak performance, as per an announcement published Oct. 25.
The exchange has informed about the delisting in advance to warn users that they should cancel their orders of the affected pairs from the platform.
The exchange added that it will delist only the indicated trading pairs, but not the tokens themselves.
The Head of Operations at OKEx, Andy Cheung, termed the move “housekeeping” in a tweet earlier today, referring to OKEx and other top exchanges: “As leaders, we are responsible for promoting a robust ecosystem […] We need to take action on those underperforming tokens now.”
Yesterday, when the delisting was announced, he had tweeted, “Getting listed is not final. Maintaining a good performance is the key to success.”
OKEx had announced the listings of four stablecoins at once earlier this month. The coins listed together were TrueUSD (TUSD), USD Coin (USDC), Gemini Dollar (GUSD), and Paxos Standard Token (PAX).
At the time of writing, OKEx is the world’s largest cryptocurrency exchange in terms of adjusted trading volume with around $402.5 million in trades over the past 24 hours.