Trinity Network, a developer of Layer 2 scaling solutions for the NEO and Ethereum blockchains, and Alchemint, developer of the collateral-backed “SDUSD” stablecoin on the NEO blockchain, have each announced exchange delistings this week. Both projects have cited low trading volume as the reason for their delistings from the centralized cryptocurrency exchanges.
TNC delisted from Kucoin
Trinity Network’s TNC token, which was added to Kucoin’s “Special Treatment” section for potential delisting in January, has been officially delisted by the exchange. In a January AMA, Trinity founder David Li stated he had “mixed opinions” about how to handle the exchange’s demands for higher volume due to the costs and fees that are associated with market making, as well as the legal considerations.
Deposits of TNC tokens have been disabled, and trading will close on April 6th, 2019. Users with TNC assets on Kucoin will need to withdraw their TNC to a NEO wallet before July 6th, 2019.
The Switcheo decentralized exchange and the Gate.io centralized exchange continue to offer active trading pairs for TNC tokens on the NEO blockchain.
SDS delisted from Bibox
Meanwhile, Alchemint’s SDS/ETH market has been suspended from the Bibox centralized exchange. Alchemint’s development team stated in an announcement that the delisting “was due to lack of trading activity.” The team reports that they are “communicating with Bibox” in an attempt to resume trading.
Deposits of SDS tokens have been disabled and users will need to withdraw their SDS tokens before May 3rd, 2019.
The Switcheo decentralized exchange continues to offer active markets for Alchemint’s SDS and SDUSD assets.
About The Author: Colin Closser
Colin Closser, M.D., was a speaker at the first NEO DevCon in San Francisco. A devoted contrarian, he has managed the improbable: a peaceful and healthy life, despite holding a medical degree. He aspires towards the wisdom of Michael Lewis and Nassim Nicholas Taleb.
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