Cryptocurrency exchange Bittrex has announced plans to remove 82 token – from 30 March 2018 on its trading platform will cease to exist BITS, BITZ, CRBIT, CRYPT and 78 other coins and tokens with low liquidity.
«Sometimes Bittrex is faced with circumstances that force us to remove some token or coin. These actions are being taken to provide customers access to digital currencies that meet our strict selection criteria and have a properly functioning blockchain and wallet,» said the Bittrex team.
The exchange urged the holders of the listed tokens to bring them at third-party wallets, because after removal of the wallet on the exchange they will not be able to restore those on these tokens.
It is known that oldoini with low liquidity and low demand create problems for cryptocurrency platforms. In particular, these assets become unpopular quite challenging for exchange and can lead to price manipulation.
Cryptocurrency trader, Sylvain Ribosome study was conducted, the results of which showed that sufficient investments to $50 thousand to find out what exchanges are involved in market manipulation.
«Many of the most popular cryptocurrency liquidity is so low that their rate on individual sites can be managed relatively small movements in the market», – he found out.
The Commission on securities and exchange Commission (SEC) has also warned about this kind of fraud – when the rate of the selected token is artificially reduced, after which he buys even more money on already low price. This scheme of market manipulation is done with the help of little-known or unpopular cryptocurrency trading pairs.
It is expected that in the framework of the fight against this type of fraud cryptocurrency exchange, will soon begin to remove from your listing the tokens that do not have sufficient liquidity.