Cryptocurrency exchange Huobi has announced that it will delist five tokens from its platform due to low liquidity and trading volume.
The tokens in question were identified as ATS (Atlas DEX), MMF (MM Finance), NCT (PolySwarm), RETH (Realms Of Ethernity) and WNDR (Wonderman Nation).
According to a notice posted on Huobi's website, the delist transaction will take effect on April 26, 2023 at 11:00 CEST.
Users holding these tokens were advised to cancel their open orders and withdraw their holdings before the deadline. Huobi said that once these tokens are delisted, the deposit service will be shut down, but the withdrawal service will continue.
The decision to delist these tokens was based on Article 17(2) of the Huobi Token Management Rules, which states that Huobi may delist any token that fails to meet certain criteria such as trading volume, liquidity, technical support, compatibility and security.
Huobi stated that it is committed to promoting the healthy development of the blockchain ecosystem and providing users with a safe and stable trading environment. The exchange also said it will continue to monitor the market and adjust its token listing policy accordingly.
Justin Sun is accused of being the secret owner of Huobi after he allegedly paid nearly $1 billion to acquire a majority stake in the stock market through a Hong Kong-based asset manager named About Capital in November 2021.
Sun denied owning a majority stake in the exchange and said he became an advisor to Huobi only after collecting a large position in its native token HT.
*Not investment advice.