San Francisco-based Kraken, the largest bitcoin exchange in euro volume, announced today that in order to help alleviate stress on its platform caused by recent growth, they will be delisting some of their illiquid trading pairs and temporarily suspending all advanced order types.
The following pairs will be delisted with all outstanding orders being canceled:
XBT/GBP, ETH/GBP, XRP/CAD, XRP/JPY, EOS/EUR, EOS/USD, XLM/EUR, XLM/USD, GNO/EUR, GNO/USD, REP/USD.
As it stands now, the company doesn’t have any plans to re-list any of these pairs, though it’s a possibility in the future once there will be more capacity.
The ability to create new advanced orders will also be temporarily suspended (so users will only be able to create basic limit and market orders).
Already open orders will remain open until canceled or executed, but users will no longer be able to create new orders in any of the following advanced types:
- Stop Loss
- Take Profit
- Stop Loss, Take Profit
- Stop Loss, Take Profit Limit
- Stop Loss Limit
- Take Profit Limit
- Trailing Stop
- Trailing Stop Limit
- Stop, Limit
This applies to all trading pairs but this suspension is temporary only. Advanced orders will return in a month or two as soon as Kraken is better able to process them.
These changes will go into effect on Tuesday, August 22 around 6 am UTC, 2 am ET (Monday, August 21 around 11 pm Pacific).
The Kraken team stated:
“We know that many of our clients like the advanced orders, but they are used much less frequently than the basic limit and market orders while taking more system resources to process.”
“We apologize for the inconvenience to clients but we think that immediate action is needed to help alleviate the current strain on our platform. We may take further action if these changes aren’t enough. Our overall plan is to reduce the load on our current platform until upgrades can be made that will enable us to smoothly scale capacity.”