In a shocking turn of events, BTC-E has just announced today that it plans to close the trading pairs of FTC/BTC and TRC/BTC on December 1st due to low volume. With the recent rise of Bitcoin, it is no surprise that most of the alternate currencies took a massive hit. Many alt coins have dropped by more than 4x their original value.

While we expected to see the value of the alternate coins drop, we didn’t see this move coming though. We always thought FTC had a decent amount of trade volume over on BTC-E. Buy and Sell orders were always in abundance. This is a very odd move, and speculation is starting already. Will they be replaced with other coins? Which ones? Is volume the real reason the coins were delisted? If not, what is?

Below is the official statement released by BTC-E: