Huobi, one of the largest crypto exchanges in the world, has recently warned against 32 digital coins listed on the exchange for ‘ST’ risks.
The coins are APPC, BCV, BFT, DAT, DGD, EKO, ENG, EVX, GAS, IDT, IIC, LUN, MDS, MT, MTL, MTN, MTX, OST, PRO, QSP, QUN, RCN, RDN, RTE, SALT, STK, TNT, UTK, WPR, XMX, ZJLT, and ZLA.
Huobi has defined the ‘ST’ warning tag under its administrative rules, and if any token-issuing firms fail to update its quarterly or semi-monthly report in time twice in succession, the exchange might put the warning tag on the token. Moreover, if any coin fails to obtain an average trading volume of $50,000 in 15 consecutive days or violates any exchange regulations, the exchange slaps an ‘ST’ warning on the coin.
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The exchange cited insufficient trading volume of the coins as the reason behind the warning on this list of 32 coins. However, the exchange has clarified that it will re-examine all the listed tokens on the 26th of December again. If the requirements are not met, Huobi might cancel the trading pairs of the tokens.
Huobi, once China’s largest crypto exchange, had to shut its doors overnight due to the country’s sudden crackdown on the booming cryptocurrency industry. It then moved its headquarter to Singapore and focused on the lucrative overseas crypto market. It is currently the fourth largest crypto exchange in the world in terms of trading volume, as per CoinMarketCap’s data and handles almost one billion dollar worth of trade every day.
In July, Huobi launched a decentralized platform called Huobi Cloud which allows users to build digital asset exchanges using Huobi’s existing platform. The firm has also extended its global outreach all over the world including offices in the UK, Japan, Australia, Brazil, and Canada.