Huobi exchange has recently tagged 32 major tokens with “ST” warning for insufficient funds including AppCoins (APPC), BitCapitalVendor (BCV), BnkToTheFuture (BFT), Datum (DAT), DigixDAO (DGD), EchoLink (EKO), Enigma (ENG), Everex (EVX), Gas (GAS), InvestDigital (IDT), Investment Chain (IIC), Lunyr (LUN), MediShares (MDS), MyToken (MT), Metal (MTL), Intelligent Medicalchain (MTN), Matryx (MTX), Simple Token (OST), Propy (PRO), Quantstamp (QSP), QunQun (QUN), Ripio Credit Network (RCN), Raiden Network Token (RDN), Rate3 (RTE), SALT, STACK (STK), Tierion (TNT), UTRUST (UTK), WePower (WPR), XMax (XMX), ZJLT Distributed Factoring Network (ZJLT), and Zilla (ZLA).
The exchange is Chinese owned and operating in Singapore, where crypto regulations are comparably more open. At the time of press, Huobi is ranking 5th position with a total market cap of $968.82M in past 24 hours according to CoinMarketCap.
“ST” is displayed “on the relevant trading pairs to indicate users with investment risks.” This warning tag could be issued in four scenarios in respect to seriousness of the case, as details listed under Huobi’s Token Administration Regulations Chapter IV. These four scenarios include project teams fail to update quarterly or semi-monthly reports for twice in succession, average daily trading volume below $50,000 in 15 consecutive days, comprehensive evaluation of investigation that led to necessary mark of “ST” tag, and circumstances identified as serious violations of the Regulations by Huobi.
Furthermore, the exchange has provided a review date of December 26, giving these tokens an opportunity to adjust in order to meet the standards before serious actions such as hiding or delisting trading pairs from the exchange.
Hiding trading pairs also happen in many other cases other than assigned “ST” tag was not removed after 30 days or standards not adjusted in accordance to Huobi Regulation. Cases like project team intentionally conceal information or disclose untrue information to manipulate market price causing fluctuation in the market, progress of project falls seriously behind the development plan of the white papers, or core team member resign from the project.
Mars Finance Global will follow through on Huobi’s update with these 32 token’s “ST” tag and adjustments.