Coinfloor to Delist Ethereum and Bitcoin Cash

Decisions are caused by the fact that ETH loses popularity but needs a lot of resources for support and BCH loses its capitalization
17 December 2019   484

The Coinfloor cryptocurrency exchange announced that from January 3, 2020, that is, on the 11th anniversary of the launch of the bitcoin network, it will cease Ethereum support and focus solely on the first cryptocurrency.

Coinfloor said that this solution will allow it to provide a wider range of services for bitcoin while simplicity of the process.

In the short term, our goal is to consolidate our position as the leading Bitcoin exchange in the UK. In 2020 and beyond, we will expand the product line, focusing on the long-term vision of ourselves as a leading provider of financial services that strengthen the economy of Bitcoin.
 

Coinfloor

Ethereum delisting will be part of this process. Deposits and trading in the second cryptocurrency by capitalization will be deactivated on January 3, the day when the genesis block of bitcoin was generated in 2009.

Withdrawals will be available after this date, but will be carried out at higher commissions.

Coinfloor founder Obi Nwosu said to Coindesk that the decision to delist Ethereum was largely due to the cumbersome technical support of this cryptocurrency with low demand by the platform's customers. He also recalled the expected platform updates and the transition to Ethereum 2.0, which may take several years.

You have to maintain that currency, every time they make an update or a change, and ethereum has got a long way to go with updates and changes to the platform.
 

Obi Nwosu

Founder, Coinfloor

Bitcoin Cash will also be delisted.

In terms of traction compared to bitcoin, [bitcoin cash] has gone from a third of the market cap to one-tenth of market cap over last year. So it was under a certain level of support and interest for us to expend resources on listing.
 

Obi Nwosu

Founder, Coinfloor

It was also reported that Coinfloor will also explore new avenues in areas such as lending in the coming year, Nwosu said.

DEAPCOIN IEO to be Held at OKEx on 8.04

The project is planning to raise $2M a the price of 1 DEP on IEO will be $ 0.0025
25 March 2020   244

OKEx Exchange announced Wednesday the 11th initial exchange offering (IEO). It will be conducted by the DEAPCOIN Project (DEP) and will be held on April 8th.

As in previous OKEx campaigns, the selection of participants and the selection of the allocation coefficient will be carried out according to two criteria: the average daily balance of OKB and the trading volume on the exchange. For each of the groups, allocation of 400 million DEP tokens is allocated.

The price of 1 DEP on IEO will be $ 0.0025. Thus, the project intends to attract up to $ 2 million from OKEx users. Trading in USDT and USDK pairs will start on the same day.

The DEP token was released by DEAPCOIN to shape the economy around the PlayMining entertainment platform they are developing, where users can earn cryptocurrency during games. DEP is presented as an ERC-20 standard token, while game items on the blockchain will use the ERC-721 standard.

Despite the generally negative dynamics of the IEO space recently, the token of the previous placement of the OKEx platform - HyperDAO - that passed at the end of February is currently trading almost 3 times higher than the initial selling price.