Huobi, one of the largest cryptocurrency exchanges in the world, is looking into the possible delisting of 32 digital assets that are currently traded on its platform.
Huobi is a Singapore-based cryptocurrency exchange. Founded in China, the company now has offices in Hong Kong, Korea, Japan, and the United States. Currently, Huobi is the 3rd largest crypto exchange based on daily volume.
In order to remain one of the most popular and most used exchanges, Huobi is continuously looking to improve the platform and protect its investors. Part of this is looking into digital assets with low volume.
Possible delisting of 32 digital assets
Today, the team at Huobi has announced that 32 digital assets might be placed under the ‘ST’ risk category. The ‘ST’ category indicates that the digital asset is at risk of delisting by Huobi due to an infringement of the exchange’s token administration regulations.
Currently, the digital assets in question have only received a warning due to insufficient trading volume. Huobi stated:
In order to promote the healthy development of the blockchain industry and protect the legitimate rights and interests of investors, Huobi regularly carries out comprehensive reviews of the listed tokens in accordance with the Token Administration Regulations of Huobi. According to the results of the review on December 20 (GMT+8) 2018, the following tokens are warned of “ST” risks due to insufficient trading volume.
The 32 digital assets are:
AppCoins (APPC), BitCapitalVendor (BCV), BnkToTheFuture (BFT), Datum (DAT),DigixDAO (DGO), EchoLink (EKO), Enigma (ENG), Everex (EVX), Gas (GAS), InvestDigital (IDT), Intelligent Investment Chain (IIC), Lunyr (LUN), MediShares (MDS), MyToken (MT), Metal (MTL), MedicalChain (MTN), Matryx (MTX), Ost (OST), Propy (PRO), QuantStamp (QSP), QunQun (QUN), Ripio Credit Network (RCN), Raiden Network Token (RDN), Rate3 (RTE), SALT, STN, Tierion (TNT), Utrust (UTK), WePower (WPR), XMax (XMX), ZJLT, Zilla (ZLA).
Huobi will reexamine the digital assets
Huobi will be reexamining the mentioned digital assets on the 26th of December this year. If any of the digital assets meet Huobi’s Article 16 on handling digital assets, then the digital assets will be placed under the ‘ST’ risk category.
The ‘ST’ tag is given to tokens whose projects have been reviewed by Huobi and failed to fulfill the following conditions.
- Project teams fail to update the quarterly report on time or fail to update the semi-monthly reports for twice in succession as scheduled even fail to update it within 7 days after being notified to do so;
- In 15 consecutive days, none of the trading pairs of the tokens has an average daily trading volume larger than $50,000 of other equivalent token
- It is considered necessary to mark “ST” through the comprehensive evaluation of inquiry, regular review, special investigation or on-site investigation;
- Other situations identified as serious violations of the Regulations by Huobi.