Major Crypto Exchange Moves To Delist Cardano, Shiba Inu, And XRP Pairs
A major cryptocurrency exchange, OKX, has announced plans to delist trading pairs for several crypto tokens, including Cardano (ADA), Shiba Inu (SHIB), and XRP. This decision follows a performance check by the crypto exchange, which shows that these trading pairs aren’t meeting expectations.
OKX To Delist These Trading Pairs
OKX announced in a blog post that it will delist spot trading pairs for ADA-ETH, XRP-ETH, SHIB-BTC, ADA-BTC, and XRP-BTC, among others. Other crypto tokens like Litecoin (LTC), Polygon (MATIC), Chainlink (LINK), Dogecoin (DOGE), and Polkadot (DOT) were also caught in the mix. OKX revealed plans to delist some spot trading pairs related to these tokens as well.
The crypto exchange explained that this move is part of their regular monitoring and review of all listed trading pairs. This review process helps them maintain a robust trading environment. According to OKX, they decided to delist these trading pairs because they do not fulfill their listing criteria. However, the exchange did not specify the exact reasons for this action.
Delisting Schedule and Details
OKX has outlined the dates and times when these spot trading pairs will be delisted. The ADA-ETH spot trading pair will be delisted on July 25 between 8 and 8:30 a.m. UTC. The XRP-ETH and SHIB-BTC spot trading pairs will be delisted on July 26 between 8 and 8:30 a.m. UTC.
Furthermore, the ADA-BTC and XRP-BTC spot trading pairs will be delisted on August 1 and 2, respectively, between 8 and 8:30 a.m. UTC. OKX has advised customers to cancel their orders relating to these pairs before the delisting date. If customers fail to do so, the system will automatically cancel these orders, although the exchange noted that cancellations might take 1 to 3 working days.
Maintaining a Robust Trading Environment
OKX emphasizes that their decision to delist certain trading pairs is part of their effort to maintain a robust spot trading environment. The exchange regularly monitors and reviews all listed trading pairs to ensure they meet their criteria. This ongoing review process helps them identify and remove underperforming trading pairs.
OKX’s listing criteria are designed to ensure that only the most reliable and popular trading pairs are available on their platform. By delisting pairs that do not meet these criteria, OKX aims to provide a better trading experience for its users.
Impact on Other Crypto Tokens
In addition to delisting Cardano, Shiba Inu, and XRP trading pairs, OKX is also planning to delist trading pairs related to other crypto tokens like Litecoin (LTC), Polygon (MATIC), Chainlink (LINK), Dogecoin (DOGE), and Polkadot (DOT). This move is part of the same review process aimed at maintaining a robust trading environment.
Users of these tokens should be aware of the potential impact of these delistings. It is important to monitor OKX’s announcements and take necessary actions to manage their trading activities accordingly.
Steps to Cancel Orders
To prepare for the delisting of certain trading pairs, OKX has provided instructions for canceling orders. Customers should log in to their OKX accounts and navigate to the trading pairs that will be delisted. From there, they can cancel any open orders related to these pairs.
If customers fail to cancel their orders before the delisting date, the system will automatically cancel them. However, this process might take 1 to 3 working days, so it is best to cancel orders manually to avoid any potential delays.
OKX Launches Telegram-based Game
OKX has been busy lately, not just with delisting trading pairs but also with new initiatives. The crypto exchange has launched a Telegram-based game called ‘OKX Racer.’ This game is centered on Bitcoin’s price movement, challenging gamers to correctly guess the flagship crypto’s price action within five-second intervals.
Jason Lau, Chief Innovation Officer at OKX, highlighted the growing popularity of Telegram’s mini-app platform. He stated that it is becoming a “can’t-miss venue” for those looking to engage the crypto community. OKX aims to embrace this user-friendly approach to “cultivate communities, incentivize participation, and encourage fun.”
Engaging the Crypto Community
The launch of OKX Racer is part of OKX’s efforts to engage the crypto community in new and exciting ways. Telegram mini-apps have become popular due to their potential for token airdrops, which can be distributed later to gamers. This model is similar to Notcoin’s NOT airdrop campaign, which successfully engaged users.
Although Jason Lau did not confirm if OKX plans to incentivize gamers through airdrops, the potential for such incentives could make the game even more appealing. By offering fun and interactive ways to engage with the crypto community, OKX hopes to strengthen its presence in the industry.
Potential Token Airdrops
Token airdrops have become a popular way to engage users in the crypto community. By distributing tokens to gamers, exchanges can incentivize participation and build stronger communities. OKX’s new initiatives, including the OKX Racer game, could potentially include token airdrops to reward users.
The success of previous airdrop campaigns, like Notcoin’s NOT airdrop, shows the effectiveness of this strategy. By offering similar incentives, OKX could attract more users and increase engagement on their platform.
Why is OKX Delisting Cardano, Shiba Inu, and XRP Pairs?
The decision to delist Cardano, Shiba Inu, and XRP trading pairs is based on OKX’s regular performance checks. These checks are part of the exchange’s efforts to maintain a robust trading environment. By removing underperforming pairs, OKX aims to provide a better experience for its users.
Although the exact reasons for the delisting were not specified, it is likely that these pairs did not meet OKX’s listing criteria. This could be due to low trading volumes, poor performance, or other factors that make them less attractive to traders.
What Are the Affected Trading Pairs?
OKX’s announcement includes several trading pairs that will be delisted. These pairs include ADA-ETH, XRP-ETH, SHIB-BTC, ADA-BTC, and XRP-BTC. Other trading pairs related to Litecoin (LTC), Polygon (MATIC), Chainlink (LINK), Dogecoin (DOGE), and Polkadot (DOT) are also affected.
It is important for traders to be aware of these changes and take necessary actions to manage their trading activities. Canceling orders related to these pairs before the delisting date can help avoid potential issues.
How to Prepare for the Delisting
To prepare for the delisting of certain trading pairs, customers should cancel their orders before the specified dates. Logging in to OKX and navigating to the affected pairs is the first step. From there, customers can manually cancel their open orders.
If orders are not canceled manually, the system will automatically cancel them after the delisting date. However, this process may take 1 to 3 working days, so manual cancellation is recommended to avoid any delays.
OKX’s Vision for the Future
OKX’s recent actions, including the delisting of certain trading pairs and the launch of the OKX Racer game, reflect the exchange’s vision for the future. By regularly reviewing and updating their platform, OKX aims to maintain a robust trading environment and provide the best experience for their users.
The launch of new initiatives, like the Telegram-based game, shows OKX’s commitment to innovation and community engagement. By embracing new technologies and offering fun ways to engage with the crypto community, OKX hopes to strengthen its position in the industry.
Conclusion
OKX’s decision to delist trading pairs for Cardano, Shiba Inu, and XRP, along with other crypto tokens, is part of their effort to maintain a robust trading environment. By regularly reviewing and updating their platform, OKX aims to provide the best experience for their users.
The launch of the OKX Racer game and potential token airdrops show OKX’s commitment to innovation and community engagement. By offering new and exciting ways to engage with the crypto community, OKX hopes to strengthen its presence in the industry and attract more users.
Traders should be aware of the upcoming delistings and take necessary actions to manage their trading activities. Canceling orders related to the affected pairs before the delisting date can help avoid potential issues and ensure a smooth transition.
As OKX continues to innovate and engage with the crypto community, their efforts to maintain a robust trading environment and provide a better experience for users will likely strengthen their position in the industry.
