Struggling altcoins have been increasingly delisted from exchanges due to weak liquidity and trading volumes.
Kucoin, a Singapore based cryptocurrency exchange, recently announced a culling of several altcoins.
The announcement stated the following altcoins were removed for meeting one or more of the disqualification criteria:
Jibrel Network (JNT)
Bitcoin Gold (BTG)
This news comes approximately a month after KuCoin delisted 6 altcoins, following a trend by major crypto exchanges. Both OKEx and Cryptopia have also followed an aggressive delisting strategy.
Huobi, the world’s fourth largest cryptocurrency exchange, also announced that it is planning to remove about 32 digital assets from its platform. The tokens were cited for low trading volume and have been placed in Huobi’s version of the ST risk category.
It’s readily apparently that this bear market is removing the slew of shit-coins that were borne from the excesses of the 2018 mania in the sector.
For me, this is a positive step forward as the industry really did need cleaning up. That being said, it’s tough blow for the investors who have large positions in these coins. Again this goes to show this industry is not for the widows and orphans.