The Delisting of Trading Pairs on OKX
The management of the OKX cryptocurrency platform has made the decision to delist certain trading pairs, including WAVES/USDC and WAVES/USDT, effective from February 8. This move comes as these trading pairs do not meet the listing criteria set by OKX.
OKX is dedicated to creating an optimal trading environment on its platform and regularly monitors the performance of all digital assets available for trading. After considering internal guidelines and customer feedback, OKX has chosen to remove these specific trading pairs from its list.
Impact on Waves Token and Trading Volumes
The announcement of the delisting did not have an immediate effect on the price of the Waves project token (WAVES). However, according to CoinMarketCap, trading volumes for WAVES experienced a decline of nearly 12%, reaching $28.2 million.
About Waves: A Blockchain-based Platform
Waves is a blockchain-based platform that enables users to create and trade digital assets. It was developed by Sasha Ivanov, a Russian developer, in 2016. The platform provides users with the ability to create their own tokens and issue them on the Waves network.
The Controversy Surrounding Waves
Aside from its features, Waves has gained attention within the cryptocurrency community due to controversies surrounding the USDN stablecoin. The stablecoin lost its peg to the dollar multiple times in 2022, leading to concerns. However, the project’s founder initially announced a restart of the Waves ecosystem before later changing course and deciding to focus on the existing project instead.
Hot Take: OKX Takes Steps Towards Optimal Trading Environment
The delisting of trading pairs on OKX, including WAVES/USDC and WAVES/USDT, reflects the platform’s commitment to maintaining a robust spot trading environment. By adhering to their listing criteria and monitoring digital asset performance, OKX aims to provide an optimal experience for traders. While the announcement did not immediately impact the price of the Waves token, it did lead to a decline in trading volumes. As Waves continues to address controversies surrounding its stablecoin, the project remains focused on its existing offerings within the blockchain-based platform.
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