KuCoin to delist 8 projects by 3rd May, exchange announces
Cryptocurrency exchange, KuCoin, recently announced that they will be removing eight projects from their platform.
According to the Special Treatment Rule of KuCoin, the latest phase of observation has ended, following which eight projects have been disqualified. KuCoin announced on their official site, “The following projects have been disqualified and the tokens will be removed from the exchange: Arcblock (ABT), SingularityNET (AGI),Aeron (ARN) ,DATA (DTA), IHT Real Estate Protocol (IHT), Polymath (POLY), Quantstamp (QSP) and Substratum (SUB).”
Reportedly, the coins will all be delisted by May 3 2019 and the deposits will be halted from Jan 29 18:00 UTC+8. And, the trading pairs will be closed from Feb 3 2019. The mentioned eight projects that will be removed are all ranked within the top 400 coins based on market cap.
The mentioned projects have decent sized trading volume and are currently even listed on several exchanges. However, the recent move by Kucoin to delist the projects might affect the projects in the long term.
The current list of coins that will soon be delisted will be added to the 10 projects that KuCoin delisted in the same ‘Special Treatment Rule’ in December 2018. The launch of the ‘Special Treatment’ area by KuCoin were done for projects on the exchange that have lack of activity from projects, does not follow roadmaps, goes through liquidation, and other potential issues. The ‘Special Treatment’ area end up in the final phase where any of the aforementioned issues could lead to potential delisting.
In other news, Arwen, a cryptocurrency trading solution, announced on Monday that it has partnered with the exchange KuCoin, FinanceMagnets reported. “Centralized exchanges are valuable pools of liquidity for traders,” said Arwen CEO Sharon Goldberg.
“The problem is that trading on centralized exchanges without an advanced security system is inherently risky for traders. If an exchange is compromised during a trade, customer funds are at risk. With Arwen, customer funds are secure even if an exchange is hacked,”Goldberg added.
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