2024

Coin98

Launchpool

Bitcoin

Read

Bybit has launched a comprehensive new listing and delisting framework for cryptocurrencies in a bid to improve user protection. 
The exchange, which is the world’s second largest by trading volume, announced the changes in an Aug. 13 press <a href="https://www.bybit.com/en/press/post/leading-the-way-bybit-reshapes-industry-norms-by-establishing-new-listing-standards-bltd379a1add1aff255" target="_blank" rel="">statement</a>. In the statement, Bybit said that it now commands more than 20% of the spot market share and had listed 151 new tokens in 2024 alone.&nbsp; 
Given its growing footprint in the sector, <a href="https://crypto.news/tag/bybit/" target="_blank" rel="noreferrer noopener">Bybit</a>, which was established in March 2018, said it feels a heightened sense of responsibility to ensure transparency and security in its operations. 
As such, the exchange has created a new framework for listing and delisting digital assets that includes several components it says are designed to safeguard users and maintain market integrity. 
Central to the new initiative is a pre-market mechanism meant to stop market manipulation by creating a more orderly trading environment. Bybit said the feature will close the gap between secondary and primary markets, something that would allow for an easier transition of newly listed tokens. 
 You might also like: <a href="https://crypto.news/coinbase-teases-new-wrapped-bitcoin-product-amid-ongoing-wbtc-controversy/"> Coinbase teases new wrapped Bitcoin product amid ongoing WBTC controversy </a> 
Additionally, Bybit’s new framework will put an emphasis on ongoing compliance monitoring, with the crypto exchange doing regular audits of listed projects to ensure they continue meeting its criteria. 
Furthermore, Bybit has said that it will roll out clear delisting protocols to remove underperforming or non-compliant projects from the platform .&nbsp; 
According to the exchange, it will base the delisting protocols on performance metrics that it will clearly define, as well as compliance checks to ensure that only reliable and secure tokens remain available for trading. 
Many new cryptocurrencies often face a post-listing dip, especially when&nbsp; the prelisting hype dies down. A case in point is a recent analysis by Coin98 that was <a href="https://crypto.news/binance-tokens-plunge-29-out-of-30-tokens-in-red-for-2024/" target="_blank" rel="noreferrer noopener">reported</a> by crypto.news. It indicated that almost all the crypto tokens listed by Binance in 2024 were in the red, with several losing more than 90% of their value since being listing. 
In May, <a href="https://crypto.news/tag/binance/" target="_blank" rel="noreferrer noopener">Binance</a> also took similar steps to overhaul its token listing model. The global crypto exchange leader stated that it would increase its support of smaller and medium value projects through its Launchpool or Megadrop outlets. 
 Read more: <a href="https://crypto.news/ledger-live-adds-support-for-revolut-to-increase-accessibility-for-crypto/"> Ledger Live adds support for Revolut to increase accessibility for crypto </a>

Bybit unveils new listing framework to elevate crypto market standards

crypto.news

Other articles published on Aug 14, 2024

Qubetics Continues to Attract Enthusiasts as Tron and Fantom Stay Afloat Market Woes

How Much Crypto Investment Is Needed to Hit a Million by 2025? 💰

Binance Launches BANANA Futures with 50x Leverage

Stablecoins bring financial inclusion, but their fate is still undecided | Opinion

Introducing: In And Out

Wazirx Transfers Crypto Assets to New Multisig Wallets to Raise Defence

Join our free newsletter for daily crypto updates!