Raiden Network Token RDN

Market Cap $ 8.576 MM (#238)
24h Volume $ 234.457 K
Chg. 24h: -4.41%
Algo. score 3.3/5  (#307)
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Raiden Network Token News

Exchanges’ Mass-Delisting of Tokens: A Precursor To The Next Bull Market?

With the price of Bitcoin hitting yearly lows, and many Altcoins now dipping far below their ICO price, it’s becoming clear that many cryptocurrencies will not survive this bear market. Because the ecosystem is so new, most of us are uncertain about what signs to look for to determine whether a crypto project is on its last legs. Price is an obvious indicator, but that can sometimes be deceiving. After all, if all the projects that lost 70-90% of their value in the past year were on their way out, then that would only leave about 3-5 projects in the entire space. A much clearer sign of a project’s demise is its delisting from major exchanges. Just today, OKEX announced that they would be delisting a third batch of trading pairs. The exchange stated that; “To create a robust trading environment and offer the best trading experience to our users, we will delist several TRADING PAIRS with weak liquidity and trading volume according to the OKEx Token Delisting / Hiding Guideline.” The affected tokens include Request Network (REQ), Raiden Network (RDN), Metal, (MTL), Iconomi (ICN) and around 30 more. Most of the tokens are paired with either ETH or BTC, while some are paired with USDT. The rising number of tokens being delisted should not surprise anyone. However, some of the names included in the list are still quite shocking, especially considering how highly tokens like REQ or RDN were held in regard just 6-8 months ago. What this reveals is that many promising projects are failing to not only meet the standards of investors but even the standards of the exchanges. Exchanges are businesses that literally profit from featuring as many tokens as possible (more token trading pairs equals more revenue earned from trading fees). Yet, the listed 30 or so tokens have performed so poorly, in matters of trading volume, that their presence on an exchange like OKEX is a net negative. According to OKEXs delisting guidelines, decisions to delist a token are based on the following criteria: Project and Team - making major changes in the team, product or business model without notifying OKEx in advance for auditing; or transferring or selling the project Token Trading - Increasing the total available supply of the token or splitting the token without notifying users and the exchange 15 days in advance Operations - Major deviations in information disclosure, deceiving users and the exchange Project Technology - The project development is not carried out in accordance with the timeline of the roadmap planned in the White Paper. Progress delays without explanation or announcement Security & Safety - Serious technical or safety issues found during Mainnet swap and refusing to pay a security deposit These criteria lead us to believe that the current batch of tokens being delisted had not only failed to meet expectations in terms of development, but may have also made big decisions without informing their community or the exchange, which would be a big breach of trust in the crypto space. Furthermore, regulatory issues may have created added pressure for exchanges to delist certain tokens that were clearly offering unregistered securities. Exchanges who have an interest in penetrating the US market would have to be especially cautious about the type of tokens they allow to be traded to avoid clashing with the SEC. OKEX is Not Alone In recent months, other exchanges, like Bittrex and Kucoin have also delisted tokens. In October, Bittrex delisted Bitshares, Bitcoin Gold and Bitcoin private. Kucoin announced that they were delisting 6 coins just 2 days ago (Raiden Network being amongst them). Lastly, Poloniex announced back in July that they would delist 9 coins. The reasons for delisting ranged from security issues (Bitcoin Gold experienced one of the largest 51% attacks in cryptocurrency history), difficulties runnings nodes (BTS), or simply limited trading volume. Predictably, all coins experienced a 20-80% decline when their delisting was announced. The Positive Aspect: Is this cleansing a precursor to the bull market? The bright side of OKEX removing these trading pairs from their exchange is that it increases the quality of tokens available for trading. OKEX is one of the largest exchanges in the world, and by setting strict quality standards, it displays a level of integrity on behalf of the exchange, and it also reduces the risk of retail investors being exposed to fraudulent projects. This is a great example of the crypto space maturing and taking responsibility for filtering out its weakest links and bad actors so that the SEC doesn’t have to. Ultimately, if more exchanges focus less on short-term revenue, and more on raising the quality standards of the tokens listed, we will establish a natural filtering process that allows only the strongest and most transparent projects to flourish during the next crypto bull run. The post Exchanges’ Mass-Delisting of Tokens: A Precursor To The Next Bull Market? appeared first on C

16 days ago

OKEx Delists Another 49 Trading Pairs, Withdrawal of 26 Affected Tokens To Close by December 14th

Earlier today, the popular cryptocurrency exchange of OKEx announced that it was delisting another batch of trading pairs. This is after it just delisted over 50 trading pairs this past October. The delisting is to create a robust trading environment and offer the best trading experience for users. The affected trading pairs have been found by the exchange as having weak liquidity and low trad volume. The list of affected pairs can be found below. Ticker Name of project Affected trading pair(s) 1ST FirstBlood USDT AMM Micromoney USDT ATL ATLANT ETH AVT Aventus BTC BRD Bread ETH CAG Change USDT CBT CommerceBlock BTC CIT Carinet BTC, ETH, OKB DAT Datum BTC, ETH, USDT DENT DENT BTC, ETH, USDT DNA EncrypGen USDT DNT district0x USDT EVX Everex ETH GNX Genaro Network USDT ICN Iconomi USDT KEY Selfkey USDT LA LAToken ETH LEV Leverj BTC, ETH, USDT MAG Maggie USDT MTL Metal BTC, ETH MVP Merculet BTC NGC NAGA BTC OAX OAX USDT OST Simple Token BTC QVT Qvolta USDT RDN Raiden Network Token BTC REN Republic Protocol ETH, USDT REQ Request Network ETH RNT OneRoot Network BTC SAN Santiment Network Token USDT SHOW Show BTC SNGLS SingularDTV BTC, ETH SPF Sportyco USDT SUB SubStratum BTC TRA Travel USDT UKG Unikoin Gold ETH VEE BLOCKv ETH WRC Worldcore USDT Delisting to Be On November 31st, 2018 OKEx stated that the above pairs will be delisted at 5:00am (UTC + 1) on the 31st of November this year. Users are advised to cancel their orders before the set time. All orders that will be active and related to the affected pairs at the time of the delisting, will be automatically canceled and the system will credit them to the trading accounts of the users. Withdrawals of 26 Affected Tokens Supported Till December 14th, 2018 OKEx goes on to state that withdrawals of 26 of the affected tokens will only be supported till 5am (UTC + 1) on the 14th of December, 2018. The exact statement listing the affected tokens is as follows: For users who are holding VEE, LEV, AVT, CBT, WRC, QVT, MTL, DNA, DNT, OAX, 1ST, CAG, UKG, BRD, SAN, ICN, ATL, SUB, REQ, NGC, AMM, LA, DENT, CIT, DAT, or MAG, please withdraw your tokens immediately to other platforms or to your wallet. The withdrawals of the above token will be closed from 05:00 Dec 14, 2018 (CET). The delisting of the trading pairs is in line with the exchange’s guidelines. What are your thoughts on OKEx delisting the trading pairs and the subsequent announcement of only supporting withdrawal of 26 tokens affected tokens till mid December? Please let us know in the comment section below. The post OKEx Delists Another 49 Trading Pairs, Withdrawal of 26 Affected Tokens To Close by December 14th appeared first on Ethereum World News.

16 days ago

KuCoin To Delist 6 Tokens

Popular cryptocurrency exchange KuCoin has announced the delisting of 6 tokens: EncrypGen (DNA), Publica (PBL), Raiden Network Token (RDN), Monetha (MTH), BlockMason Credit Protocol (BCPT), and Gladius Token (GLA). According to KuCoin, the projects no longer meet their existing listing requirements. All deposits and orders will be closed at 10pm (UTC + 8) today. The delisting will happen tomorrow, at 2 pm (UTC + 8). However, withdrawals will remain active for 12 months. KuCoin saw a volume of $32.5 million in the last 24 hours. (VS)

22 days ago

SBI Ripple Asia Launches MoneyTap with Three Japanese Banks

The South Korean crypto market will add the two coins next week, with the support announcement triggering a significant price increase for SALT and RDN on Friday morning....

2 months ago

Bithumb Crypto Exchange to List Salt (SALT) and Raiden Network Token (RDN)

The team at Bithumb recently posted the following announcement on their Twitter feed: SALT (SALT) and Raiden Network Token (RDN) will be listed on Bithumb Today! Date : October 5, 2018(Fri) at night (UTC+9).” The current trading price of SALT is $0.6922, showing an increase of 40% over the past 24 hours. RDN is currently trading at a price of $0.66, marking an increase of 36% over the past 24 hours. (JF)

2 months ago

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