International cryptocurrency exchange OKX has announced that it will be removing over 30 trading pairs connected to Bitcoin (BTC) and Ethereum (ETH) in an effort to improve liquidity. The exchange made this decision after conducting a thorough review of the market.
Starting from July 25, OKX will gradually delist a total of 38 trading pairs. Some of the trading pairs that will be removed in the first batch include LTC/ETH, MATIC/BTC, ADA/ETH, FIL/ETH, and LINK/ETH, among others. The delisting process will continue throughout the month of August, with the final batch of trading pairs set to be removed on August 2.
Users who have active orders in any of the affected trading pairs are advised to cancel them before the specified delisting times. Any remaining orders will be automatically canceled by the platform after the deadline, which may take up to three business days.
This decision to delist these trading pairs comes after OKX decided to withdraw its Virtual Asset Service Provider (VASP) license application in Hong Kong two months ago. The exchange also recently ceased its operations in Nigeria due to changes in local regulations. Despite these changes, OKX has assured its users that it will continue to monitor and enforce its trading pair listings according to its rules.
The move to optimize liquidity by delisting certain trading pairs is aimed at streamlining the trading experience on the platform and ensuring that users have access to the most liquid markets. By focusing on the most actively traded pairs, OKX hopes to create a more efficient trading environment for its users.
As the cryptocurrency market continues to evolve, exchanges like OKX are constantly adjusting their offerings to adapt to changing conditions. By regularly reviewing and updating their trading pairs, exchanges can ensure that they are providing the best possible service to their users.
Overall, the decision to delist these trading pairs is part of OKX’s commitment to maintaining a robust and efficient trading platform for its users. By optimizing liquidity and focusing on the most active markets, OKX is taking proactive steps to enhance the trading experience for its customers.