Cryptocurrency exchange, KuCoin has ended support for a number of cryptocurrencies as part of an internal process that seeks to streamline operations. The exchange says it will no longer support trading pairs made up of Bitcoin Cash (BCH), NEO, Tether (USDT). The move is poised to affect about 22 pairs in the platform.
Some of the affected pairs include OTA/BCH, KCS/BCH, DENT/BCH, DASH/KCS, CAG/KCS, MOD/KCS, DBC/USDT, TEL/USDT, FOTA/USDT, MOD/NEO, QTUM/NEO, and ACAT/NEO. The firm says it ended support for the pairs because they were not generating sufficient volume needed for continued listing.
“We are excited to announce our new streamlined exchange. With our rapid growth in the first quarter, we added in many new markets to provide a diverse platform for users to trade on. During the 2nd quarter, we will be making many changes to the platform based on our user feedback. Several of the markets will be streamlined. KCS, USDT, and NEO will eliminate multiple pairs each, and BCH pairs will be removed.”” KuCoin In a statement
KuCoin stopped accepting orders involving the pairs 30 minutes before making the announcement. While the move did not go well with many people, the firm’s support team insists no users will lose any token, involving the affected currencies.
Coincheck Delisting Push
It has since emerged that KuCoin is not the only exchange ending support for cryptocurrencies. Japan-Based Coincheck has also delisted a number of trading pairs as it moves to improve security measures in the wake of a major cyber-attack early in the year.
Coincheck on its part is delisting the so-called privacy coins made up of Monero, Dash, and Zcash. The exchange will remove the pair even though they account for a considerable amount of traded volume in the platform. Monero, for instance, has come under criticism in the recent past because of its loosely built anonymity and privacy features that make a go tool for transactions of illegal nature.