Smart Layer Responds to OKX’s Delisting of SLN Token Amid Significant Price Drop

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The Ethereum Virtual Machine (EVM)-compatible infrastructure project, Smart Layer, has reacted to OKX’s recent decision.
The delisting of the SLN token from OKX caused significant disappointment within the Smart Layer community.
On August 7th, Wednesday, OKX officially announced the delisting of six trading pairs, which included Meson Network (MSN), OmegaNetwork (OMN), Augur (REP), Euro Tether (EURT), IguVerse (IGU), Paycoin (PCI), and Smart Layer Network (SLN).

OKX’s decision to delist seven altcoins has created a stir in the crypto market, notably affecting Smart Layer Network (SLN) and its community.

OKX Delists Multiple Altcoins

In a formal announcement on August 7th, OKX revealed its decision to remove several altcoin pairs from its platform. This move included notable names such as Meson Network (MSN), OmegaNetwork (OMN), Augur (REP), Euro Tether (EURT), IguVerse (IGU), Paycoin (PCI), and Smart Layer Network (SLN). According to OKX, this decision was based on routine assessments and its delisting guidelines.

Impact on Altcoin Prices

The delisting announcement had an immediate and drastic impact on the affected altcoins. For instance, OMN and MSN saw their values drop by 51.2% and 32.3%, respectively. SLN, in particular, experienced a plunge of over 42%. This significant decline underscores the market’s sensitivity to such announcements and the pivotal role exchanges play in token valuations.

Reaction from Smart Layer

Smart Layer has publicly expressed its disappointment in response to OKX’s decision. The project highlighted that during the pre-listing phase in February, their listing partner at OKX had assured them of global availability, except in China and a few European countries. However, post-listing, SLN trading pairs faced restrictions in almost all prominent regions.

Commitment to SLN Holders

Despite the setback, Smart Layer remains resolute in its commitment to its token holders. The project emphasized its determination to reward SLN holders as the crypto and altcoin markets gain momentum in the coming months. Furthermore, Smart Layer has multiple partnerships with more than ten crypto exchanges, reinforcing its plan to continue offering value to its community.

Conclusion

The recent developments surrounding OKX’s delisting of several altcoins, including Smart Layer Network (SLN), underscore the volatile nature of the crypto market and the profound influence of exchange decisions on altcoin valuations. However, Smart Layer’s proactive stance and commitment to its token holders highlight the resilience and adaptability inherent in many crypto projects.

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