Bittrex, one of the largest cryptocurrency exchanges on the market, just announced it would be removing 82 token wallets at the end of this coming month. The reason? The U.S based cryptocurrency exchange decided to weed out altcoins that do not meet specific criteria. The wallets/coins have low liquidity or do not possess a fully operational blockchain.
Still, investors of these digital tokens have a little time to get their portfolio’s together. The date they will be removed is the 30th of March giving investors a little under two weeks. After said date, the coins won’t be redeemable and Bittrex’s action will be immutable.
A representative from Bittrex responded to the announcement by saying:
“Occasionally, there are circumstances that lead Bittrex to remove a coin’s wallet or market from the Bittrex Exchange. We will be removing the wallets included in the list below on March 30, 2018. Once these wallets are removed, we will no longer be able to recover these coins. Users must withdrawal their coins before March 30, 2018, to keep them.”
The coins that will be removed from the Bittrex platform include:
8BIT
ADC
AM
AMS
APEX*
ARB
BITS*
BITZ*
BLC
BOB
BSTY
BTA
CCN
CRBIT*
CRYPT*
DAR
DGC
DRACO
DTC
FC2
FRK
FSC2*
GEMZ
GHC
GP
GRT
HKG
HYPER*
HZ
J
KR*
LXC*
MAX
MEC
METAL
MND
MTR*
MZC
NAUT
NET
NEU*
NTRN
OC*
ORB
PRIME*
PXI
ROOT*
SCOT
SCRT*
SFR*
SLG
SLING*
SOON
SPRTS
SSD*
STEPS*
STV
SWING
TES
TIT
TRI
TRK
U*
UFO
UNIQ*
UNIT
UNO
UTC
VIOR*
VIRAL*
VPN
WARP*
XAUR
XBB
XC
XCO
XDQ*
XPY*
XQN
XSEED*
XTC
YBC*
Why?
Just recently, the US Securities and Exchange Commission announced they would be taking affirmative actions against exchanges. Price manipulation of smaller cryptocurrencies is nothing new, and the SEC is taking active measures against “pump and dump” schemes and is actively warning the community about them.
The Commission has issued new guidelines to trading platforms that prompt them de-list these tokens or register with them to continue selling them.
While this may be annoying for those who hold the coins, the issue of market manipulation is actively holding back the cryptocurrencies from reaching their full potential mainstream.