On Sep 19, 2018, the exchange announced delisting of around nine coins from the cryptocurrency exchange. The traders have about 30 days to withdraw all balance from the account and close their trading accounts. The decision was taken to improve the performance of the Cryptocurrency exchange of coins. The announcement of delisting was released on the website Reddit.
The coins which are delisted were not very popular among the traders which are the reason for the huge price drops since the beginning of the year. It was a complete shock for the traders as they were not notified in advance without any prior notification or warning.
The general reason for the delisting of the coins is considered that the exchange department has defined a volume limit for a certain period. If coins are not able to exceed the threshold, it leads to the delisting of the cryptocurrency coin. The exchange wants to get rid of the coins which are not popular among the traders.
The delisting was announced at the time when the Poloniex was trying to polish its acts. The Goldman Sachs purchased the poloniex with the aim of cleaning up the cryptocurrency exchange. The objective was to define an alternative option for the trading system.