In order to streamline its internal operations, the newly emerged Digital Exchange KuCoin recently reported that it would delist NEO, USDT and BCH pairs from its platform.
Apart from the above-mentioned pairs, USDT and KCS pairs are also affected by their decision. KuCoin mentioned that they will be delisting 22 pairs of currencies from the platform.
KuCoin announced on their website:
“Dear KuCoin Users,
We are excited to announce our new streamlined exchange. With our rapid growth in the first quarter we added in many new markets to provide a diverse platform for users to trade on. During the 2nd quarter we will be making many changes to the platform based on our user feedback. Several of the markets will be streamlined. KCS, USDT, and NEO will eliminate multiple pairs each, and BCH pairs will be removed.”
The detailed changes are as follows:
- BCH – All trading pairs: FOTA/BCH, KCS/BCH, DENT/BCH, ACT/BCH, UTK/BCH, DAT/BCH, and XAS/BCH
- KCS – DASH/KCS, CAG/KCS, MOD/KCS
- USDT – DBC/USDT, TEL/USDT, FOTA/USDT, OCN/USDT, TNC/USDT, ETC/USDT
- NEO – MOD/NEO, QTUM/NEO, ACAT/NEO, FOTA/NEO, BCH/NEO, DENT/NEO
Based on the report they have published on the KuCoin website, the firm no longer supports these pairs since 26th March 2018. The company has taken this decision because these trading pairs do not generate sufficient trading volume. It has not only influenced the Bitcoin Cash markets negatively, but also the cryptocurrencies such as DENT (Cryptocurrency which creates an open marketplace for buying and selling mobile data) is also impacted as it uses KCS, FOTA and NEO pairs.
Reports say that 30 minutes prior to this announcement, KuCoin refrained from accepting new orders which involved these pairs. Though this was a hasty decision, the KuCoin support team ensured the users that they will not lose any existing token.
The organization made sure that they will get rid off any kind Bitcoin Cash based exchanges completely. Despite the fact that the users would not be able to trade BCH for some of the altcoins, it is confirmed that the trading opportunities for the Bitcoin Cash users will remain almost the same as their primary trading pairs would remain active.
This unexpected announcement by KuCoin has left it’s users unanswered whether they have taken the right action by delisting these pairs. However, according to KuCoin, the decision has a positive impact on the market.
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