Three privacy-focused altcoins have seen their prices fall after a prominent crypto trading platform announced it would be delisted.
Seychelles-based cryptocurrency exchange OKX said in a new blog post that it will delist Monero (XMR), Zcash (ZEC), and Dash (DASH) as they no longer meet the company's listing criteria. However, the exact reason given was unclear.
“To maintain a robust spot trading environment, we constantly monitor the performance of all listed trading pairs and regularly review their listing eligibility.
Based on user feedback and OKX token delisting/hiding guidelines, we plan to delist some trading pairs that do not meet our listing criteria… We will continue to monitor all listed trading pairs and implement delisting/hiding mechanisms as appropriate. ”
According to OKX, users should cancel orders containing virtual currency immediately.
Pairings between altcoins and stablecoins such as Tether (USDT) and USDC will be removed on January 4th or 5th, as will pairings with crypto kingpin Bitcoin (BTC). Additionally, the ability for users to deposit tokens will be suspended on the 27th, and withdrawals will be suspended on March 5, 2024.
Other digital assets to be delisted by OKX include cross-chain protocol Fusion (FSN), layer 2 decentralized exchange (DEX) ZKSpace (ZKS), and zero-knowledge network Horizen (ZEN).
The news sent digital asset prices down, with Monero, Zcash, and Dash falling 6.5%, 10.4%, and 10.6%, respectively, in the past 24 hours.
XMR is trading at $166 at the time of writing, while Zcash and Dash are trading at $29.20 and $34.05 respectively.
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