KuCoin, the 55th biggest exchange with a daily trading volume of over $20 million has announced it will be delisting a number of coins before Christmas this year.
The delisting process will be as follows:
- Deposits will be shut off at 20:00 (UTC+8) December 21, 2018.
- Relative trading pairs will be closed at 18:00 (UTC+8) December 24, 2018. For better management of your funds, we recommend that you cancel your pending orders of relative projects as soon as possible.
- Withdrawals of relative tokens from KuCoin will continue to be supported until 18:00 (UTC+8) on March 21, 2019.
- If a user is currently holding relative tokens, the exchange requests them to withdrawal on or before the closing date above.
The move comes as the result of the recent bear market that has seen hundreds of altcoins lose value and become unprofitable to continue listing. The majority of major exchanges require cryptocurrencies to meet certain criteria in order to remain tradeable on their platforms.
Notably just a month ago KuCoin had delisted 6 other cryptos, namely, EncrypGen (DNA), Publica (PBL), Raiden Network Token (RDN), Monetha (MTH), BlockMason Credit Protocol (BCPT) and Gladius Token (GLA).