Singapore Based Huobi Exchange Warns Against 32 Listed Coins For Lack of Necessary Volumes

2018-12-23 04:03

32 virtual currencies listed on Huobi were warned against by the exchange for ‘ST’ risks. The coins that caught the attention of the company are APPC, BCV, BFT, DAT, DGD, EKO, ENG, EVX, GAS, IDT, IIC, LUN, MDS, MT, MTL, MTN, MTX, OST, PRO, QSP, QUN, RCN, RDN, RTE, SALT, STK, TNT, UTK, WPR, XMX, ZJLT, and ZLA.

The above-mentioned coins are listed under the ST’ tag that had been under the administrative rule. If the listed tokens fail to update their quarterly and monthly report two times in a row the aforementioned tag is activated automatically. Additionally, if the listed tokens fail to show an average trading volume of $50,000 for 15 consecutive days the ‘ST’ warning is activated.

These coins will be reevaluated again on 26th December. If the performance improves, the warning will be removed. If not here are chances that the exchange might cancel their trading pair.

Huobi is a Singapore-based cryptocurrency exchange. Founded in China, the company now has offices in Hong Kong, Korea, Japan, and the United States. In August 2018 it became a publicly listed Hong Kong company.

Following a 2017 ban on Bitcoin exchanges by the Chinese government, Huobi stopped Bitcoin withdrawals. Huobi China continues to operate as a blockchain consulting and research platform. As of March 2018, Huobi processed around $1 billion in trades daily.

According to the data from CoinMarketCap, the exchange is now listed as the fourth largest in terms of daily trading volume. Earlier this year, the exchange launched a service called
Huobi cloud that allows users to build virtual currencies using their existing platform.

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