Privacy-Focused Altcoins Suffer Price Drops After Crypto Exchange OKX Says It Will Delist Monero, Zcash and Dash
A trio of privacy-focused altcoins are seeing dips in value after a distinguished crypto change platform stated it’ll delist them.
In a brand new firm blog post, the Seychelles-based crypto change OKX says that it’s going to delist Monero (XMR), Zcash (ZEC), and Dash (DASH) as they not match the agency’s itemizing standards, although no precise was purpose was given.
“As a way to preserve a sturdy spot buying and selling surroundings, we always monitor the efficiency of all listed buying and selling pairs and evaluation their itemizing {qualifications} regularly.
Primarily based on suggestions from customers and the OKX Token Delisting / Hiding Guideline, we shall be delisting a number of buying and selling pairs that don’t fulfill our itemizing standards… We are going to proceed to observe all listed buying and selling pairs and implement the delisting/hiding mechanism as essential.”
In line with OKX, customers ought to cancel orders involving the digital currencies instantly.
The altcoins’ pairings with stablecoins reminiscent of Tether (USDT) and USDC shall be eliminated, in addition to their pairings with crypto king Bitcoin (BTC), on both January 4th or fifth. Moreover, the power for customers to deposit the tokens was suspended on the twenty seventh whereas withdrawing them shall be suspended on March fifth, 2024.
Different digital property being delisted by OKX embody cross-chain protocol Fusion (FSN), layer-2 decentralized change (DEX) ZKSpace (ZKS), and zero-knowledge community Horizen (ZEN).
The information precipitated the digital property to endure value drops as Monero, Zcash, and Dash every noticed respective decreases of 6.5%, 10.4%, and 10.6% over the last 24 hours.
XMR is buying and selling for $166 at time of writing whereas Zcash and Dash are valued at $29.20 and $34.05, respectively.
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