OKEx delists a whopping total of 40 cryptocurrency trading pairs

The Hong-Kong based exchange announced on the 25th of October that at 06.00AM CET, on the 31st of October, they will halt the trading of 42 cryptocurrency pairs. Users have been warned that they should cancel their orders involving these pairs from the platform.

A cryptocurrency trading pair describes the officially granted exchange of one type of cryptocurrency for another. For example, Ethereum (ETH)and Bitcoin (BTC) tokens constitute a trading pair. One can buy ETH with BTC or vice versa. This can provide several advantages over trading with standard fiat currency.

For example, if the value of Bitcoin rose by 10% and the value of Ethereum stayed the same, the Bitcoins buying power has increased. You would be able to purchase more Ethereum for the same amount of Bitcoin. This is opposed to fiat currency, the purchasing power of which, stays the same.

However, not all trading pairs hold a benefit.  The cryptocurrency market has been going through a  bear trend for almost the whole year. The demand for cryptocurrencies is low and hence it appears that OKEx is having a hard time maintaining some trading pairs which have a particularly low demand.

A trading pair describes the officially granted exchange of one type of cryptocurrency for another. For example, Ethereum (ETH)and Bitcoin (BTC) tokens constitute a trading pair. One can buy ETH with BTC or vice versa. This can provide several advantages over trading with standard fiat currency.

For example, if the value of Bitcoin rose by 10% and the value of Ethereum stayed the same, the Bitcoins buying power has increased. You would be able to purchase more Ethereum for the same amount of Bitcoin. This is opposed to fiat currency, the purchasing power of which, stays the same.

In their announcement, OKEx cites the trading pairs to be delisted as having weak liquidity and trading volume. Andy Cheung, Head of Operations at OKEx, has elaborated further on the reason for this delisting:

This announcement comes after the news that earlier this month, OKEx had added four new stablecoins to be listed on their platform.

Related Articles

CBDC adoption: Russia enters final phase to test digital ruble

Russia is in the final phase of testing a central bank digital currency (CBDC), which will be used for both national and international...

What exactly is DeFi? Decentralised finance explained

DeFi is a set of technologies that enables people to manage their funds on a peer-to-peer basis and it's changing the way money can be used.

Expansion: Coinbase will be launching in the Netherlands

As part of its global expansion, Coinbase has announced that it has been granted regulatory approval from the Netherlands' national bank.

Is Bitcoin better than retail estate as an investment?

According to MicroStrategy CEO Michael Saylor, Bitcoin presents a much better long-term asset than property.

See All