Cryptocurrency exchange OKX has announced that it will remove several low-liquidity margin altcoin trading pairs from its platform.
According to a tweet posted by OKX on April 8, 2023, the following margin trading pairs will be removed from the stock market on April 18, 2023 at 06:00 Turkish time:
- ALPHA/USDT
- BAT/BTC
- ENJ/BTC
- NSA/BTC
- IOST/BTC
- KNC-BTC
- LRC-BTC
- SNT-USDT
- THETA-BTC
- WAVES-BTC
- XTZ-BTC
- XCH-BTC
- CEL-BTC
In addition, OKX will stop borrowing for the respective margin trading pairs on April 11, 2023 at 09:00 Turkish time.
Margin trading is a type of trading that allows users to borrow money from the stock market to increase their leverage and potential profits. However, it also involves higher risks and fees than regular spot trading.
Users who have open positions or pending orders on the affected margin trading pairs are required to close or cancel them before the delist date. Otherwise, OKX will automatically close them at the market price. Users can also transfer their assets to other available trading pairs or withdraw them from the exchange.
Regarding the delisting of the said trading pairs, the exchange said:
“To ensure a strong and reliable spot trading ecosystem, we continually monitor the performance of all listed projects and regularly review their eligibility for listing. Taking into account user feedback and following the OKX Token Delist/Hiding Guideline, we will remove certain projects from our list that do not meet our listing criteria.”
*Not investment advice.