Huobi Has Delisted 33 Tokens In One Day
- Huobi delisted 33 different coins in a single day, citing worries about trading risk and poor trading activity.
- Huobi said that “the majority of these tokens violated Section 17, Rule 1 and Section 17, Rule 2 of Huobi’s token management laws” while outlining the reasons for the delisting.
In a single day, Huobi delisted 33 different tokens, citing concerns about trading risk and low trading volume.
According to an announcement made on January 12, the cryptocurrency exchange Huobi would delist the following 33 tokens: ABT, ATP, APN, AST, DIE, DHT, DFA, EDEN, GEAR, HC, INDI, IOI, INV, IRIS, GCOIN, GOF, KMA, MTA, NAS, OPUL, PEARL, PRIMATE, QASH, SMT, SLC, SKU, SOC, TALK
According to a statement made, “The above notice will take effect on January 16, the aforementioned coins will cease to be traded, and they will be permanently delisted.” Huobi stated that “the majority of these tokens breached Section 17, Rule 1 and Section 17, Rule 2 of the platform’s token management laws” while discussing the rationale for the delisting.
Because of major infractions of restrictions, a number of tokens were removed from circulation. Others fall short of the daily trading volume threshold of $50,000, which some don’t even come close to meeting. One of the reasons for the delisting was because of this.
According to the exchange, a further significant cause is that many of these projects have not updated their quarterly reports on time, have not updated their semi-monthly reports twice in a row compared to the plan, or even have not updated. within 7 days of being told of the need to do so.
Huobi is currently one of the most prominent cryptocurrency exchanges available today. Huobi consistently ranks among the top exchanges in terms of the overall trading volume that it processes in a given day. Huobi has recently announced that it intends to dismiss approximately twenty percent of its workforce as a result of the challenging scenario presented by the decline.
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