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Indian Crypto Exchange Koinex Delists Six Coins With Low Trading Volume; Is Exchange in Trouble?

The effect of India’s Central Bank’s fiat ban for crypto-based business is further showing its impact. After the demise of Zebpay and Coindelta, which was also because of the same ban, Indian crypto exchange Koinex is downsizing its offering. The company has announced that it will be delisting 6 tokens: Achain [ACT], CyberMiles [CMT], GAS [GAS], Nano [NANO], NEO [NEO] and Zcoin [XCZ]

Lack of volumes on Indian exchanges have resulted in low trading activity:  Koinex

Well, things don’t seem to be going really good for the Indian crypto exchanges as most of them are struggling to live up. According to a recent article published by Koinex, a prominent Indian crypto exchange, the exchange points out that the fiat ban imposed by Reserve Bank of India had dried up the volumes in Indian exchanges which in turn has resulted in low trading activity. The exchange further states that under these circumstances, it was not viable to maintain the coins with low trading activity and hence it will…

Read Full Story : Coingape

2019-04-11 00:03:16

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