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Bittrex is one of the most important cryptocurrency exchanges in the market. Now, it has announced that it is going to remove 82 de-listed token wallets before April. With this decision, the crypto exchange wants to ensure its users access cryptocurrencies that meet a strict listing criteria.

Bittrex Removes 82 Token Wallets

Apparently, and as reported by Bittrex, there are some tokens that have low liquidity or that do not have a functioning blockchain. And that’s unacceptable for such an important cryptocurrency exchange as Bittrex.

At the moment of writing this article, Bittrex is the 14th most important cryptocurrency exchange by volume. It has managed $144.07 million dollars and the most traded pairs are BTC/USDT, NBT/BTC, XEM/BTC and ADA/BTC.

The tokens will be removed before April and all the users will have to withdraw their tokens. If they do not do it, then the coins would not be redeemable once they are removed from the platform. 

Bittrex explained in a blog post written on March the 9th:

“Occasionally, there are circumstances that lead to Bittrex to remove a coin’s wallet or market from the Bittrex Exchange. These actions are taken to ensure customers have access to digital tokens that continue to meet our strict coin listing criteria and have a properly functioning blockchain wallet.”

The coins that will be removed are: 8BIT, ADC, APEX*, ARB, BITS*, BITZ*, BLC, BOB, BTA, CCN, CRBIT*, CRYPT*, DAR, DGC, FC2, FRK, FSC2*, GEMZ, GP, HKG, HYPER*, HZ, J, KR*, LXC*, MAX, MEC, METAL, MND, MTR*, NAUT, NEU*, PXI, SLG, TES, TRI, UNO, XTC, among others.

The coins that have an asterisk (*) are the tokens that will not allow withdrawals due to a problem in the blockchain or wallet of the tokens. Some of the tokens are not even listed in CoinMarketCap, and have very few supporters or developers.

Bittrex Problems

The platform has been investigated due to different pump and dump schemes. This and other issues related to its performance made the exchange lose over 70% of its trading volume. It passed from $1 billion dollars a day to $144 million as of today.

Other complains to the platform were wash trading and price manipulation, something very common in cryptocurrencies. Some low volume tokens could be easily pumped and dumped making any exchange lose its prestige. In November, Bittrex announced that it was going to take some important measures.

“Bittrex actively discourages any type of market manipulation, including pump groups. Consistent with our terms of service, we will suspend and close any accounts engaging in this type of activity and notify the appropriate authorities.” 

Image Courtesy of The Merkle and Bittrex

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