Bittrex to Remove 82 De-Listed Token Wallets This Month

Bittrex to Remove 82 De-Listed Token Wallets This Month

One of the biggest cryptocurrency exchanges out there, Bittrex, recently announced its going to remove 82 de-listed token wallets later this month to ensure its users have access to cryptocurrencies that meet its strict listing criteria. Some of the tokens being delist have low liquidity, while others reportedly dont have a functioning blockchain.

The US-based exchange recently announced the move, while warning the tokens will be removed from its platform on March 30. This means users need to withdraw their tokens by then, as the coins wont be redeemable after theyre removed.

Bittrex further noted that tokens with broken wallets or blockchains wont allow their users to withdraw, as the coins themselves arent working. Most of these cryptocurrencies, including CRBIT and CRYPT, are seemingly not even listed on CoinMarketCap.

Justifying its move, Bittrexs announcement reads:

Occasionally, there are circumstances that lead Bittrex to remove a coins wallet or market from the Bittrex Exchange. These actions are taken to ensure customers have access to digital tokens that continue to meet our strict coin listing criteria and have a properly functioning blockchain and wallet.

Bittrex was once one of the largest cryptocurrency exchanges. Various investigations found users were running pump and dump schemes on its platform. These, coupled with other issues, helped the exchanges trading volume tank from over $1 billion a day to $172 million at press time.

Wash trading and price manipulation are somewhat common in the cryptocurrency ecosystem, especially when it comes to low-volume cryptocurrency pairs. As covered by Ethereum World News, Bittrex revealed in November that it would crack down on these schemes.

Being based in the US, the exchange has to register with the Securities and Exchange Commission (SEC) before processing trades involving tokens. The regulator recently ordered cryptocurrency exchanges to either de-list initial coin offering (ICO) tokens, or register with it.

Often, cryptocurrency traders use other exchanges to find these relatively unknown tokens. These include decentralized exchanges like EtherDelta, or Christchurch-based Cryptopia. These are, however, seen as risky investments due to their lack of liquidity and potential lack of development.

16.03.2018 / 16:50 128
Bittrex Will Remove 82 Tokens Due to Lack of Liquidity in Small Cryptocurrencies Bittrex Will Remove 82 Tokens Due to
Bittrex, one of the largest cryptocurrency exchanges which also powers UpBit, South Koreas second biggest exchange operated by Kakao subsidiary
Cryptocurrency Exchanges Are Making Millions from Just Listing Coins Cryptocurrency Exchanges Are Making
Running a major cryptocurrency exchange is a lucrative business. Coinbase is reported to have made over $1 billion last year, and Binance is on
Crypto Exchange Bittrex: Were Compliant With SECs ICO Rules Crypto Exchange Bittrex: Were
US-based cryptocurrency exchange Bittrex says that it is compliant with federal regulations governing securities trading. The exchange, which is
Bittrex Adds Tether Competitor TrueUSD as Regulation Rumors Persist Bittrex Adds Tether Competitor TrueUSD
As the saying goes, dont keep all your stablecoins in one basket. Over-reliance on tethers could prove costly to an exchange such as Bittrex if U.S.
Bittrex Blocks Residents of North Korea, Iran, Crimea, Syria, and Cuba Bittrex Blocks Residents of North
Concerns from Russian traders that they may be unable to access Bittrex once the exchanges new terms of service come into effect this month appear
Comments (0)
Add a comment
Comment on