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UPbit and Bittrex plan on delisting SALT and Wings-DAO [WINGS] from their platforms

Namrata Shukla



UPbit and Bittrex plan on delisting SALT and Wings-DAO [WINGS] from their platforms
Source: Pixabay

The cryptocurrency market is evolving and with new technologies making their debut in the market, exchanges have started taking a stance against coins that register any illicit activities. Recently Binance, the most prominent cryptocurrency exchange, delisted five altcoins – CLOAK, MOD, SALT, SUB, and WINGS – from its trading platform. Bittrex and UPbit joined the bandwagon as they plan to delist both Salt [SALT] and Wings- DAO [WINGS].

UPbit cited low number of users and marketing effort as the reason behind delisting WINGS in a blog post.

 “Wings Dao is a project based on the Big Data-based Cryptographic Pricing Forecast Market, but currently it is impossible to build data based on less than 2 participants per day of service and it is not possible to operate the product. In addition, efforts to promote business at the project team level are weak. We have designated it as an investment interest stock.”

SALT, on the other hand, is being delisted due to an ongoing investigation by local financial authorities over the unfair distribution of tokens, stated the blog. The Blog mentioned the “Significant stocks specify the reason:”

“Eric Bur Heath (Eric Voorhees) the bar received measures that the non-participation in cryptocurrency unauthorized from the SEC was a member, even about the unfair token distribution made to investigate the recent local financial authorities I’m getting. In consideration of this situation, we have designated it as an investment stock.”

The publication speculated that UPbit’s move of delisting tokens might mean Bittrex delisting the tokens as well, as both exchanges list coins at the same time.

The altcoins were delisted from Binance on account of level and quality of development activity, the commitment of the team to the project, evidence of unethical/fraudulent conduct, among other reasons.

SALT is listed in a dozen exchanges, while WINGS would be tradable on at least four other exchanges if they get delisted from UPbit and Bittrex.