- Crypto exchange OKX has announced plans to remove trading pairs for several cryptocurrencies, such as Cardano (ADA), Shiba Inu (SHIB), and XRP, after a performance review.
- The exchange’s recent assessment indicated that these pairs failed to meet expectations or comply with listing criteria.
- “Maintaining a robust spot trading environment” is cited as a key reason for delisting, though specifics on the delisting metrics were not disclosed.
OKX is set to delist several underperforming crypto trading pairs to ensure a robust trading environment, impacting tokens like ADA, SHIB, and XRP.
OKX To Delist Multiple Trading Pairs
In a formal blog post, OKX revealed that it would delist spot trading pairs for ADA-ETH, XRP-ETH, SHIB-BTC, ADA-BTC, and XRP-BTC. Additionally, cryptocurrencies such as Litecoin (LTC), Polygon (MATIC), Chainlink (LINK), Dogecoin (DOGE), and Polkadot (DOT) will also see select trading pairs removed. This move is part of the crypto exchange’s ongoing review process to ensure that listed trading pairs meet their performance and liquidity standards.
Reasons and Timelines for Delisting
OKX outlined that the delistings are scheduled to occur in late July and early August. Specifically, ADA-ETH will be delisted on July 25, followed by XRP-ETH and SHIB-BTC on July 26. The ADA-BTC and XRP-BTC pairs are set to be removed on August 1 and August 2, respectively. Customers have been advised to cancel orders related to these pairs by the specified dates to avoid automatic cancellations, which could take 1 to 3 working days to process.
Strategic Business Decisions and Innovation
Alongside the delistings, OKX continues to position itself as a forward-thinking entity within the crypto market by launching innovative products. One such initiative is the ‘OKX Racer’ game, a Telegram mini-app that allows users to guess Bitcoin’s price movement in five-second intervals. Jason Lau, OKX’s Chief Innovation Officer, emphasized the increasing traction of Telegram’s mini-app platform and the importance of engaging the crypto community in innovative ways. The game aims to foster community building, incentivize participation, and offer an immersive experience.
Conclusion
OKX’s recent actions underline its commitment to maintaining a competitive and reliable trading environment. By delisting underperforming pairs and introducing engaging new features like the ‘OKX Racer’ game, the exchange aims to balance both the operational integrity of its trading ecosystem and community engagement. Investors and users should keep informed of these changes to adapt their trading activities accordingly.
