Both Huobi and Kucoin decided to delist several altcoins after they proved not to be resilient during the current bear market that the space is experiencing. Since the bear trend continues, there are several exchanges that are getting rid of several digital assets.
In a recent post uploaded by Huobi Global, the company informed that 30 different coins were on a probationary list and could be removed from the paltform. Huobi informed that projects that do not have weekly reports for more than eight weeks or an average trading volume of tokens less than $50,000, among other things, would be delisted from the platform. Some of the tokens affected we find SALT, STN, Zilla (ZLA) or Utrust (UTK).
Kucoin has also informed something similar. The company said that the coins Bread, WePower, Bitclave, and Ethlend were disqualified from listing. They were not able to meet the excahnge’s listing requirements.
On the matter, Huobi wrote:
“In order to promote the healthy development of the blockchain industry and protect the legitimate rights and interests of investors, Huobi regularly carries out comprehensive reviews of the listed tokens in accordance with the Token Administration Regulations of Huobi.”
The decision of these two companies comes in a very difficult moment for the virtual currency market. During this year, Bitcoin (BTC) and other virtual currencies lost more than 82% of their value.
Huobi is the third largest virtual currency exchange in the market according to its trading volume, registering more than $620 million in the last 24 hours. KuCoin, instead, is the 69th largest crypto exchange handling $10 million in the last 24 hours.
Other cryptocurrency exchanges such as Coinbase are adding support to new assets. In some cases, some trading pairs do not have enough volume and in other cases the digital assets do not comply with the requirements established by these exchanges.