Trade.io Suspends Crypto Trading Due to Market Slowdown

Zug-based Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term company trade.io, on Tuesday announced the suspension of all trading activities on its crypto exchange platform.

The decision was made due to the poor condition of the cryptocurrency markets. However, the firm assured that the move is only temporary.

“Trade.io is not going out of business. The crypto exchange will be archived securely and pending the financial opportunity will be reopened at a future date,” the announcement stated.

The exchange cited three key reasons - fake volumes, scam projects, and the vast unregulated crypto environment; a massive marketing budget; and increasing infrastructure cost - which forced it to take the harsh decision.

“This is purely a profit and loss decision. Despite the success of our re-launch, it has become clear to us that in current market conditions the exchange is a long way from turning a profit. Profits (and losses) directly affect the LP payouts,” the exchange added.

“By removing the costs of the exchange we will increase the profitability of the trade.io group of companies and as such increase the LP payouts over time which should drive the price of TIOx.”

Closing all channels despite re-opening assurance

Though the platform is suspending all activities on the platform on October 28, it will continue to process withdrawals until October 31. After the deadline, the Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term Pool will continue to operate with only TIOmarkets.

The exchange also detailed that its TIOx token will be listed on the IDAX, Mercatox, and ABCC exchanges and will remain the key to accessing its liquidity pool.

“Starting Monday November 4th, all future LP distributions will occur on the TIOmarkets platform and will be paid to your TIOmarkets MT5 trading accounts. Payouts are expected to remain in ETH,” the announcement added.

It, however, urged TIOx holders whose tokens are not locked into the liquidity pool to either withdraw the tokens to a private wallet or lock them into the LP in TIO Markets.

“Once your TIOmarkets account is registered and your KYC is approved you will be able to deposit your TIOx to TIO markets and lock it into the LP from your TIOmarkets Portal/Members Area,” Trade.io noted.