Trade.io announced today to suspend trading activities on its crypto exchange platform due to the poor condition of the cryptocurrency market. The move is only temporary. Trade.io cited fake volumes, scam projects, and the unregulated crypto environment for suspending trading activities.
The exchange said that this is purely a profit and loss decision. Despite the successful re-launch, it has become clear that in current market conditions, the exchange is a long way from turning profits, the exchange added.
The platform is suspending all activities on the exchange on October 28, but users can withdraw funds till October 31 after that the liquidity pool would continue to operate with only TIO markets. The exchange also informed that its TIOx token would be listed on IDAX, Mercatox, and ABCC exchanges and will remain the key to accessing its liquidity pool.
Trade.io urged the TIOx holders whose tokens are not locked onto the liquidity pool to either withdraw the tokens to a private wallet or lock them into the LP in TIO Markets.