Seychelles-based cryptocurrency exchange OKX has recently declared its decision to delist three privacy-focused altcoins – Monero (XMR), Zcash (ZEC), and Dash (DASH). The exchange cited a deviation from its listing criteria as the primary reason behind removing these digital assets from its platform.
OKX maintains a vigilant stance on the performance and compliance of all trading pairs and periodically reviews their qualifications for listing.
Delisting decisions based on user feedback and guidelines
In an official blog post, OKX stated,
“To maintain a robust spot trading environment, we constantly monitor the performance of all listed trading pairs and review their listing qualifications on a regular basis. Based on user feedback and the OKX Token Delisting / Hiding Guideline, we will delist several trading pairs that do not fulfill our listing criteria.”
The exchange intends to monitor all listed trading pairs and implement delisting or hiding mechanisms as necessary.
Users who currently hold or have pending orders involving Monero (XMR), Zcash (ZEC), and Dash (DASH) on OKX are strongly encouraged to cancel these orders promptly. The exchange has specified that the altcoins’ pairings with stablecoins, such as Tether (USDT) and USDC, will be removed on either January 4th or 5th, 2024, along with their pairings with Bitcoin (BTC).
Furthermore, OKX has suspended the ability for users to deposit these tokens since December 27th, 2023. Withdrawal services for Monero (XMR), Zcash (ZEC), and Dash (DASH) will also be suspended on March 5th, 2024, making it crucial for users to take timely action with their holdings.
Additional Altcoins delisted
In addition to the privacy altcoins, OKX has also decided to delist several other digital assets from its platform. These include the cross-chain protocol Fusion (FSN), the layer-2 decentralized exchange ZKSpace (ZKS), and the zero-knowledge network Horizen (ZEN).
Market response: Price dips for privacy Altcoins
The news of the impending delisting has had an immediate impact on the prices of Monero (XMR), Zcash (ZEC), and Dash (DASH). Over the last 24 hours, these privacy-focused altcoins have witnessed notable value decreases. Monero (XMR) experienced a decline of 6.5%, while Zcash (ZEC) and Dash (DASH) faced more significant drops of 10.4% and 10.6%, respectively.
At the time of writing, Monero (XMR) is trading at $166, Zcash (ZEC) at $29.20, and Dash (DASH) at $34.05.
Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
