OKX to Delist XRP, SHIB, and More in BTC and ETH Pairs Amid Market Shifts
OKX, a digital asset exchange has made its decision to delist Ripple’s XRP, SHIB, ADA, and other cryptocurrencies trading in pairs with BTC and ETH.
This decision will impact the trading pairs of 40 and the crypto assets of 30. OKX mentioned that the tokens were delisted due to listing criteria and to ensure the sustainability of the trading market. As stated by the exchange, the delisting process will be carried out in four stages starting from July 25.
Phased Delisting Schedule
The delisting plan is to start from the first batch of trading pairs on 25th July and include trading pairs such as LTC-ETH, MATIC-BTC, ADA-ETH, FIL-ETH, LINK-ETH, OKB-ETH, HBAR-BTC, EOS-ETH, QTUM-BTC, and GRT-BTC.
The second phase will happen on July 26 for pairs including ATOM-ETH, XCH-BTC, MKR-BTC, NEO-BTC, OKT-ETH, OKT-BTC, XRP-ETH, SHIB-BTC, DOGE-ETH, TRX-ETH.
The third phase planned to commence on August 1 will remove ADA-BTC, FIL-BTC, NEAR-BTC, LINK-BTC, DOT-BTC, UNI-BTC, and ETC-BTC.
Lastly, the following pairs will be delisted on August 3: ATOM-BTC, EOS-BTC, AVAX-BTC, CRV-BTC, TRX-BTC, CHZ-BTC, AAVE-BTC, XLM-BTC, CRO-BTC, XRP-BTC, and DOGE-BTC.
User Advisory and System Process
OKX has asked its users to cancel the orders of the mentioned trading pairs before the stated time. The exchange stated that any other orders would be automatically canceled by the system and this may take 1-3 business days. This circular is to avoid any possible disturbance to the traders and to facilitate the process of delisting.
An OKX spokesperson commented,
“We will be delisting the mentioned trading pairs at the following delisting times, it is recommended that users close their orders for these trading pairs before the delisting process, if the orders are not closed before the delisting time, the system will automatically close them within one to three working days.”
Market Implications
The removal of these trading pairs may impact the market sentiment and the investors, especially those who have less common cryptocurrencies. However, the prominent ones are expected to be less affected by the same.
Delistings can be linked with the shifts in market strategies as well as in listing standards of the exchanges. Hence, the investors and traders are encouraged to keep on checking the various centralized exchange platforms to identify the existing listing in the market to enable them to make the right decision.
In other news, OKX has launched OKX Racer, a mini-app game on Telegram. This free to play game is a casual game which enable the users to predict the changes in the Bitcoin price within five seconds. OKX Racer can be called the first game of this type released by a large centralized exchange on Telegram, which has become one of the most popular platforms for tap-to-earn games among 900 million users.
OKX Racer is quite simple in its design and functionality. Each user makes a prediction about the change a Bitcoin price in the next 5 seconds – an increase or a decrease. Correct answers give points and more points are given when the correct guesses are made one after the other.
Additionally, a player can get referral points and exchange these points to improve their gameplay. This new game is designed to attract the attention of the crypto enthusiasts and provide a fun approach to interact with the predictions of the market.
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