Bittrex’ coin listing and delisting policy has long been a mystery to outsiders, who have struggled to make sense of it. That mystery deepened this week after the exchange announced that it was removing Mysterium, a coin it only added last year and which still had respectable trade volume. Upon news of the delisting, Mysterium and Apex – the other coin scheduled for removal – plunged sharply.
Here Today, Gone Tomorrow.
There was once a time when Bittrex was the site that all new coins aspired to be listed on, the event guaranteeing an instant jump in price. Then, last year, the tide of new additions slowed to a trickle before virtually halting altogether, and coin developers went elsewhere. It is no coincidence that exchanges such as Binance, Gate.io, and Kucoin have prospered since Bittrex fell quiet. Traders, who once urged their followers to sign up at the US exchange, now urge their audience to take their custom elsewhere, to pastures where the coins are fresher and the growth is higher.
The number of coins available on Bittrex has been steadily dropping since last year, as the weekly and monthly delistings – typically of coins with a low trading volume – have not been replaced by new entrants. On Saturday, the exchange posted notice that Apex (APX), Bitcoindark (BTCD), and Mysterium (MYST) would be removed on January 26. There were few complaints at the loss BTCD; the privacy coin market is getting crowded and it is widely expected that Bittrex will list Bitcoin Private when it forks from Zclassic in the coming weeks.
The removal of Mysterium is quite literally a mystery though, so much so that the token’s developers were prompted to email the exchange to find out why. The response was less than convincing, with Bittrex proffering:
''We encourage you to request relisting when you have completed and fully implemented the basic application for which you intend your token to be used and both the application and token can be used by the general public.''
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