KuCoin warn of possible delisting for EdenChain following full token release news
KuCoin have announced that they have put EdenChain ($EDN) under the Special Treatment category on their exchange following the announcement from EdenChain that they will be releasing all tokens.
EdenChain announced last week that all tokens would be released simultaneously and not according to the original token release plan. EdenChain co-founder James Ahn said in the announcement "we have decided that a full release of tokens is the most prudent course of action for making our token available for use."
The announcement to release all tokens for better widespread adoption of the token has been met with negativity from KuCoin exchange who have now added the "ST" label to the project on their exchange.
In a recent announcement from KuCoin, the company states that "EdenChain’s (EDN) decision to release all tokens in advance and not follow the original agreement to unlock them as part of a token release plan may cause price volatility. In response, KuCoin has now added ST (Special Treatment) tags to EDN. Please exercise caution when trading in the EDN trading pairs."
KuCoin's Special Treatment area is defined for projects that could potentially become delisted from the exchange due to a number of reasons. The main reason sighted currently, is due to the huge potential for a massive sell-off that would see the price of $EDN dump on the market, greatly affecting $EDN holders and new buyers.
$EDN is currently trading on six exchanges with KuCoin being the third largest in $EDN volume behind Hotbit and BitForex. $EDN is currently priced at $0.004 (103 Sats) and ranks #543 on CMC with a total market cap of $2.38 million. $EDN is down over 14.5% on the day.
EdenChain’s Full Token Release Announcement and Risk Warning— KuCoin Updates (@KuCoinUpdates) December 3, 2018
See the official announcement here:https://t.co/1BjR1lmmF4 pic.twitter.com/Ut7JrZIW0B
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