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Cryptocurrency News

Bitfinex delists 87 trading pairs

Bitfinex, one of the top cryptocurrency exchange available as well as one to have hundreds of trading pairs listed, just announced 87 of them will be delisted.

The reasoning behind the delisting is a lack of liquidity which makes it highly difficult for traders or investors to get in and out of them. The most popular assets amongst this list are: Zilliqa (ZIL) and Polymath (Poly) on both their Bitcoin and Ether pairings. Additionally, VeChain (VET), Kyber Network (KNC), Decentraland (MANA) and QTUM (QTM) will have their Ether pairings delisted.

All traders will need to cancel any open orders on these pairs prior to 26 March 2020 or they’ll have them automatically closed.

This isn’t the first delisting-spree for Bitfinex as they had delisted over 40 pairs on a previous occasion this month. This ensures proper exchange liquidity and is a healthy step forward for the cryptocurrency space as a whole.

If an exchange keeps illiquid assets, its reputation is on the line as liquidity is its responsibility. Additionally, markets are a voting machine and participants vote which assets shall remain by trading them and adding liquidity. It’s a battle of the fittest, in a way similar to natural selection.

Image licensed via Shutterstock

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