Poloniex To De-List 27 Altcoins - Bitcoinist.net

Poloniex To De-List 27 Altcoins


Breaking: Poloniex has announced that 27 crypto markets will be de-listed from their cryptocurrency exchange on the 5th of September, 2016. Some of the de-listings are expected, like DAO, Dashcoin, and others less so – the most surprising being Mintcoin, with a market cap of 1.22 Million USD at the time of writing.

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The complete list of removals was delivered today on the Poloniex Twitter account in two concurrent messages:

Most of these altcoins’ markets are comparatively very small, coming in under 100,000 USD. Others are defunct. Poloniex changes listings regularly, but not usually this many at once. This removal of smaller coins may be due to trading beginning to concentrate in the more prominent altcoins as interest in ETH/ETC increases, and Monero and Dash are enjoying increased adoption, particularly from DNMs.

The past few weeks have seen a loss of interest in more niche, ‘feature-coins,’ with ETC/ETH, DASH, and BTC dominating trade. Of interest here are the split Ethereum Chains, with both blockchains here to stay after talk of a 51% attack and ‘white hat’ dump on the non-fork chain. ETC also generated som controversy at the outset of the split, with a few exchanges withholding the new coin from ETH holders in some circumstances.

In the Meantime, Bitcoin continues to edge back towards $600 USD following a drop off post-halving, Dash pushed for Jaxx integration on Android and iOS, and several DNMs have picked up Monero as a private option for transacting. However, with Mycelium set to implement P2P tumbling in later releases, we may see Bitcoin edge those smaller cryptocurrencies back out of the space. Expect more to follow as we look into the matter further.

Thoughts on the recent massive Poloniex Exchange de-listing? Curious about small-market altcoins? Start a dialogue in the Comments!


image credit: Poloniex

Tyson O'Ham

  • Makes Poloniex seem more legit and gives newer and smaller exchanges a chance to pick up lesser coins and hope something good happens to one of them.

  • The cost to run these wallets cant be that much..

  • cryptowatcher

    Common sense strategies for the everyday crypto man

    1) Diversify: If Mt. Gox taught us anything, it is this. If 1 out of 4 or 5 of your exchanges gets compromised, that still leaves you in the game. If a few of your coins go poof, same deal. If you are not spreading your coins on multiple exchanges, you are a bigger fool than holdings just a few.

    Many of my poloneix “losses” today were still at 100%+ gains, although I did lose 40-50% of the value relative to yesterday on a few, and I did sell a couple at a loss to avoid the anticipated panic. However, because I’m invested in many coins on many exchanges today’s losses are trivial. Whether you trust this particular exchange or any other, they are in control of all the coins you give them control of, and that includes when & if they stop being available. Delistings aside, it is quite (in)convenient for exchanges to get hacked, so don’t put all of your coins on one exchange cause you don’t get them back (ask everyone in that Cryptsy class action lawsuit)

    2) Allocation: To the same point, you also don’t want to over-diversify or you will produce “average” (relative to crypto) results. It’s probably better to invest in 50 or a smaller number of coins you know a bit about with volume, then to blindly invest in every coin listed on poloniex, because that’s likely too much for you to keep track of on a part time basis, and delisted coins such as this will negate any rocketships. But both of those are better than only investing in 2 coins. All of this of course presumes all of your investments are not in crypto. Again to reiterate, don’t put all of your eggs in the same exchange or type of basket; you should also put some some of your blue eggs here & some blue eggs there to further mitigate possibility of loss of your larger holdings being in the same basket that absconds to China.

    3) Liquidity: The minimum you should hold of each coin in a given exchange wallet should always exceed the minimum sell order, else you may find yourself stuck with delisted coins with no way to move them. What good is a wallet with no exchange, assuming you even have a wallet. Do not sell so much of your holdings & expect the rest to ride it out 500% so it meets the minimum order threshold, else you could wipe out those gains. As we’ve seen today, many coins have dropped in half on this pre-emptive news, so if you were at that threshold, you may be stuck underwater now.

    4) Adapt: Crypto exchanges do not operate the same as a stock broker. Whether you are a taker or maker, you aren’t limited to large blocks like you would as a retail trader due to fees. Exploit this to your advantage and maximize your gains by making many more trades. This will prevent you from getting shut out, and will “average down” your cost, and as importantly, average up your exit price. This is what institutional traders do. Since the fees are negligible, you can also try strategies like scalping on high volume coins, or getting in at the bottom on other coins as a pure speculation or volume play. Where else can you find a gem like $DIEM (currently trading for 0.00000002), where you have quite literally found the floor. Buy at 2, sell at 3 or even 4 & repeat over & over. Find something like that where you can systematically flip. It’s unlikely to fall any lower since only the miner could be selling it at that level, therefore it only has upside (though be advised, very low volume you may not see your trade executed for ages and don’t expect it to go up 50x in value). See also $RDD at 0.00000007 with limited downside exposure & others in that price range ripe for a jump. Will they go up 100x in value? Probably not, but imo, it’s statistically much more likely to go to *012, or even to *024, then down to *002 (excluding delistings such as today)

    5) Due Diligence: This isn’t your grandma’s stock market. The poor saps who aren’t aware of the upcoming delistings & don’t sell or worse, buy them or don’t cancel their buy orders rather, now will have no wallet to export many of them let alone a market to sell. Poloneix put this on their twitter and it is visible on their site, but what about the people on vacation right now? The people who aren’t checking regularly or are complacent can’t help themselves. Ultimately many other people will be blindsided by the missing coins. Which is precisely why diversification is the most important, otherwise everything else is secondary

    the above should not be construed as financial advice, only commentary. disclosure: I trade as well as have long positions in both $RDD & $DIEM, and several dozen other coins

  • Agreed.

  • Gregor Barros

    Im in diem too
    I noticed that
    More People have to seee this and increase the volume
    Need tô raise 10x tô get real good

  • Gregor Barros

    When the delisting happen the investor lose your coins
    They simply desappear?
    If you can answer
    I thank