Tanya Abrosimova
Independent Analyst
- The exchange cites low liquidity as the primary reason.
- BTG/USD shows little reaction to the news.
Cryptocurrency exchange OKEx decided to delist all Bitcoin Gold (BTG) futures due to insufficient liquidity.
The decision comes to force on January 25, 9:00 am (CET). All weekly. Bi-weekly and quarterly contracts will be delivered on the above said date at a price registered by BTG/USD on OKEx an hour delivery
According to the official press release, the exchange will remove all Bitcoin Gold futures contracts data on January 30.
"If you have any remaining BTG asset in your futures trading account, please make sure to transfer it out before the above mentioned time. Otherwise, we will automatically transfer it to your wallet,» the announcement says.
Meanwhile, Bitcoin Gold takes the 27th place in CoinMarketCap rating with a market capitalization $191.4M. The average daily trading volume of BTG reached $3.6M.
Despite the discouraging news, BTG is mostly unchanged on a day-over-day basis, moving in sync with the rest of the market. Currently, it is changing hands at $11.84, off the recent peak reached at $12.62 on January 14.
Bitcoin Gold forked from Bitcoin network on October 24, 2017. Soon after the launch, the website of the project fell victim to DDoS attack, while Coinbase and Bittrex for sloppy design and critical issues. In May 2018 Bitcoin Gold was bitten by Bitcoin Gold was hit by a 51% attack and delisted by Bittrex for poor cooperation following the event.
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