The most prominent digital asset in the list is Bitcoin Gold (BTG), which KuCoin says it will be ceasing deposits for from today, December 21st (UTC +8). Bitcoin Gold is currently the 25th largest cryptocurrency by market cap, trading at $14.20, down 1.4 percent today.
The other coins which will also be delisted are:
1. Mobius (MOBI)
2. EthLend (LEND)
3. WePower (WPR)
4. Jibrel Network (JNT)
5. BtiClave (CAT)
6. Bread (BRD)
7. Asch (XAS)
8. STK (STK)
9. Modum (MOD)
The move comes as the result of the recent bear market that has seen several thousands of altcoins lose value and become unprofitable to continue listing. The majority of major exchanges require cryptocurrencies to meet certain criteria in order to remain tradeable on their platforms.
Trading pairs for the eleven cryptocurrencies will be removed on 24th December 2018, at 6 pm (UTC +8). Any pending orders related to the listed assets will be canceled after that date. Withdrawals will remain open until 6 pm (UTC +8) on March 21st, 2019, although users have been advised to withdraw more promptly to avoid transaction delays.
“A Year of Correction”
In a recent interview with Bloomberg, Changpeng Zhao, the CEO of digital asset exchange giant Binance, called 2018 “a year of correction”. Despite shows signs this week of a potential turnaround, the cryptocurrency market has lost almost $700 billion of value this year. However, many believe the correction was necessary in order to bring stability to the market and reveal the true value of digital assets.