Cobinhood, the cryptocurrency exchange that launched a year ago, will mark its one year anniversary by delisting a mammoth 58 tokens from its trading platform, as well as removing specific trading pairs of other coins, blaming low liquidity and poor trading volume. The list of tokens that will be completely removed is as follows: REP, ETHOS, GNT, NGC, OMG, SAN, SPHTX, SNT, PAY, BAT, GTC, DRGN, DGD, CVC, INS, OCN, ICN, MANA, STK, VOISE, FUN, GNO, BDG, ENJ, IOST, BRD, BAR, FSN, DADI, NTK, SUB, ABT, REN, WTC, RFR, BEE, MCO, LYM, QTUM, GTO, FLUZ, TBAR, BOT, DXT, CGC, MFG, ACT, DENT, LAP, HQX, MTN, SMT, BOE, BM, COFI, LSTR, KICK, OSA.
The list includes some prominent tokens, as well as lesser known ones, which goes to show the toll that the bear market has taken on exchanges that were making money hand over fist this time last year. Cobinhood offered the following explanation for the move:
As COBINHOOD has been devoted to optimizing trading experience and maximizing benefits for all users, starting December 21, 00:00 UTC+0, we will delist several trading pairs with weak liquidity and low trading volume after conducting thorough reviews of our listed tokens.
Not the First, and Probably Not the Last
Cobinhood is not the first exchange to do a mass delisting exercise this year – OKEx cut more than 30 trading pairs at the start of November, again citing poor trading volume. Three weeks prior to this Binance took the axe to four coins, stating that the move was, apparently, due to suspect integrity of the projects involved.
Removal from an exchange can often ring the death knell for a project unless it is listed on an equally good or better exchange. If low trading volume is enough for a coin to be delisted then there are plenty out there that might be in trouble, not taking into account the state of their finances after a year-long bear market.
Such a large cull as Cobinhood has undertaken may seem drastic, but if the bear market continues into 2019 then such numbers might become commonplace.
