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Obviously, digital currencies that are still striving for prominence, especially those ones that are below the top 20 largest cryptocurrencies, face more challenges with crypto exchanges. This goes in line with the proposal of delisting Digibyte (DGB), recently announced by Poloniex exchange, which has since been trailed with reactions within the cryptocurrency sphere.
Poloniex Moves to Delist Digibyte (DGB)
A few hours ago, Poloniex, a San Francisco based cryptocurrency exchange aired its move to delist the digital token Digibyte (DGB) from its list of trading options.
The exchange made this known on its official Twitter handle. The major reason behind the proposed action was made discrete. The exchange only came out with the fact that DGB’s quality does not meet its listing standard any longer after a careful review conducted.
Poloniex Shared thus, “After a careful review, we decided DigiByte is not qualified per our listing standard. We will delist DGB soon. Details to be announced.”
After a careful review, we decided #DigiByte is not qualified per our listing standard. We will delist $DGB soon. Details to be announced.
— Poloniex Exchange (@Poloniex) December 5, 2019
Digibyte (DGB) Responds to the Proposed Delisting
About 2 hours later, the affected digital currency, Digibyte took to twitter to respond to the announced delisting proposal made by Poloniex exchange against its digital coin DGB.
In the response, Digibyte displayed its dissatisfaction with the displeasing and discreet measure taken against its token DGB. It pointed at the number of years they have mutually related in terms of crypto trading without rancor, but progress and great innovations.
“Apparently being a truly decentralized, grass roots driven blockchain that was never an ICO and was not 100% premined is not up to the “new listing standards” at Poloniex. After being traded there for over 5 years and bringing numerous innovations in the industry.” Digibyte tweeted.
Apparently being a truly decentralized, grass roots driven #blockchain that was never an ICO and was not 100% premined is not up to the “new listing standards” at #Poloniex. After being traded there for over 5 years and bringing numerous innovations in the industry. https://t.co/dteSpBcYwn
— DigiByte (@DigiByteCoin) December 5, 2019
Reactions Trail the Digibyte (DGB) Delisting Proposal
As it is ever expected, the enthusiastic members that constitute the cryptocurrency sphere cannot be all silent at such a seemingly decisive decision aired by the cryptocurrency exchange, Poloniex.
Prominent personalities in the industry conjoined to display their discontentment regarding the proposed delisting.
Among these big guns in the crypto space, who reacted to this move is BitLord, a cryptocurrency analyst and content creator. His reaction and response shows how unpleasant he is with the trending decision.
You’ve got to be kidding me 😳
This exchange deserves to burn
— ฿ITLORD (Hunger strike) (@Crypto_Bitlord) December 5, 2019
Also, CryptOrca, a cryptocurrency enthusiast with over 100,000 followers tagged it as a “bad move”. Other prominent individuals in the crypto sphere also added their thoughts with dissatisfaction.
What Could Have Suddenly Initiated the Delisting Proposal?
Going by an unconfirmed report deduced from a response of another crypto community member identified as Crypto Meme Central, the comment made by the founder of Digibyte could have initiated the proposed delisting of DGB by Poloniex.
An image he captioned in his response has a title that says, “Digibyte Founder Calls CEO Binance and Tron Founder Crooks”. The headline was live about 24 hours ago, followed by the surprise announcement made by Justin Sun’s owned crypto exchange, Poloniex.
So @Poloniex delists the #DigiByte shitcoin. Here is WHY..
To me this surely looks like a personal vendetta between the two shitcoin founders..@jaredctate of $DGB shitcoin
&@justinsuntron of $TRX shitcoin (who owns also Poloniex)🤔🤔🤔 Thoughts ? pic.twitter.com/tKU8cKJynZ
— Crypto Meme Central 🔞Jan 3🔑 (@CryptoScamHub) December 5, 2019
The Delisting Proposal Seems to be Affecting Digibyte (DGB) Price
Digibyte (DGB) now occupies the 55th position in the market. The digital token has been one of the least performers among the coins in its range since the delisting news broke out.
At the time of filing this report, DGB is trading at $0.006386, with about 3% price downtrend in the last 24 hours.