KuCoin to Revamp Tether (USDT) Market This Week

KuCoin, one of the largest cryptocurrency exchanges, will overhaul its Tether (USDT) market on Tuesday by removing existing pairs and adding new ones, the company said in a statement on Friday.

KuCoin will delist nine USDT pairs. Bitcoin Gold (BTG), Dash (DASH), and OmiseGo (OMG) are the largest coins to be excluded from the USDT market. The remaining cryptocurrencies slated for removal are Dent (DENT), Odyssey (OCN), KickCoin (KICK), DADI (DADI), Dock (DOCK), and Credits (CS).

The exchange will remove all open pairs between the nine coins and Tether at 10:00 UTC on Monday, with a full delisting to follow at 08:00 UTC on Tuesday.

“We will only remove the trading pairs; the tokens will not be affected. You will not lose any tokens when the trading pairs are delisted. You can still trade the tokens with other trading pairs on KuCoin,” the exchange explained in the press release.

The platform will add several new coins to the Tether market on Tuesday, introducing USDT pairs with IoT Chain (ITC), Ontology (ONT), Distributed Credit Chain (DCC), Aurora (AOA), Lympo (LYM), and One Ledger (OLT).

Tether is one of five KuCoin markets along with Bitcoin (BTC), Ethereum (ETH), NEO (NEO), and KuCoin Shares (KCS). The company did not disclose any reasons for the additions and the removals. Most of the pairs that face delisting were added to the USDT market last month.

Separately on Friday, the exchange warned users about fake accounts that try to steal KuCoin users’ sign-in credentials.

“Be extremely cautious when clicking unknown links (e.g. links shared in social networking sites, Telegram groups and search engines) with domain names similar to KuCoin’s official website (e.g. kuc01n.com),” the company explained.

KuCoin had more than $10 million in daily trading volume as at 08:50 UTC on Monday. Based on the 24-hour volume, the top pairs were ETH/BTC ($703,574) followed by BTC/USDT (639,624) and AOA/BTC ($506,105).