LiteFinance has announced that it will be delisting the REF/USD cryptocurrency pair (Reef vs. US Dollar) from its list of trading instruments, following a decision made by its liquidity provider. The delisting is scheduled to take place on August 23, 2024, marking the end of trading for the REF/USD pair on the platform.

The process leading up to the delisting will begin on Monday, August 19, 2024. At 12:00 (LiteFinance's trading server time, GMT+3), the REF/USD pair will be switched to "close only" mode. This means that traders will no longer be able to place new orders or modify existing ones for this pair. LiteFinance has advised all traders to close any open positions in REF/USD at their earliest convenience to avoid any complications.

The final step in the delisting process will occur on Friday, August 23, 2024, also at 12:00 (LiteFinance's trading server time, GMT+3). At this time, trading in the REF/USD pair will be completely discontinued. Any positions that remain open at the time of closure will be automatically liquidated at the price recorded at the moment of liquidation.

LiteFinance’s decision to remove the REF/USD pair is in direct response to the liquidity provider's decision to delist REEF, the underlying asset. Such actions are not uncommon in the cryptocurrency trading space, where assets can be delisted due to various factors, including low liquidity, regulatory changes, or strategic decisions by service providers.

Traders holding positions in REF/USD are encouraged to monitor their accounts closely and take appropriate action before the trading halt on August 23. LiteFinance has assured its clients that it will continue to provide updates and support throughout this transition.

This delisting serves as a reminder of the dynamic nature of cryptocurrency markets, where assets can be added or removed based on changing market conditions and decisions by key stakeholders.