Bittrex Tightened New Tokens Listing Rules

Now token can be delisted due to low community interest or changes in legislation
01 February 2018   738

The American exchange Bittrex has updated the requirements for new tokens listing. In particular, now developers need to provide technical information about the token itself, as well as the data of at least one team member. The new criteria are reported by CoinDesk.

In addition, Bittrex will check whether it is legal to host each specific token for trade in the United States. After this check, the specialized board will consider the features of the block of the presented crypto currency, its scope, its importance for the market and the reputation of the team.

We have to have confidence that as things are breaking that these guys are actually able to fix it and sometimes fix this stuff on the fly. So, you know having a great engineering team and great leadership team matters significantly in the listing process.
 

Bill Shihara
CEO, Bittrex

Among the reasons why Bittrex can delist token are:

  • changes in legislation,
  • low community interest,
  • break-in or breakdown of blockchain and crypto-currency-related technologies,
  • the team's refusal to support their own token,
  • low trading volumes,
  • suspicious activity in the market
  • user complaints.

Tokens that fall under the delisting criteria will not be removed immediately, but within two weeks. After the direct removal of the token, traders will have another two weeks to withdraw their assets.

Bittrex is delisting Synergycoin

After a long silence from the developers Bittrex has announced it is delisting Synergycoin active on April 27
19 April 2018   283

Bittrex Support desk has released an announcement stating the removal of BTC-SNRG market on April 27. SNRG is a token of cryptocurrency startup Synergy. The coin initially featured built-in TOR network anonymization, public transaction comments, dual key stealth addresses (a way to hide the receiver of a coin), blockchain notary (a tool for incorporating a PoE into the blockchain) and a long-term blockchain validation (using the SHA256d algorithm).

Judging by the relatively recent posts on the official coin forum (1 and 2) the development halted for an unknown period of time with no communication with the developers team representative. Bittrex was one of the top stakers of the coin, and that fact provided the price stability for some time. Since the situation has not changed since last pump (November, 2017), the coin will be delisted.

At the moment of publication, Synergy market parameters are as follows

  • Average price: $0.559445
  • Market cap: $2,005,214
  • Volume (24H): $17,086