A trio of privacy-focused altcoins are seeing their prices drop after a prominent crypto exchange platform said it will delist them.
At a new company blog postSeychelles-based crypto exchange OKX says it will delist Monero (XMR), Zcash (ZEC) and Dash (DASH) as they no longer meet the company’s listing criteria, although no exact reason was given.
“To maintain a robust spot trading environment, we continuously monitor the performance of all listed trading pairs and regularly review their listing qualifications.
Based on user feedback and the OKX Token Delisting/Hiding Guideline, we will be delisting several trading pairs that do not meet our listing criteria… We will continue to monitor all listed trading pairs and implement the delisting/hiding mechanism as necessary. ”
According to OKX, users should immediately cancel orders involving the virtual currency.
The altcoins’ links to stablecoins such as Tether (USDT) and USDC will be removed on January 4 or 5, as will their links to crypto king Bitcoin (BTC). Furthermore, the ability for users to deposit the tokens was suspended on March 27, while their withdrawal will be suspended on March 5, 2024.
Other digital assets being delisted by OKX include cross-chain protocol Fusion (FSN), layer-2 decentralized exchange (DEX), ZKSpace (ZKS), and zero-knowledge network Horizen (ZEN).
The news caused digital asset prices to fall, as Monero, Zcash and Dash saw declines of 6.5%, 10.4% and 10.6% respectively over the past 24 hours.
XMR is trading at $166 at the time of writing, while Zcash and Dash are valued at $29.20 and $34.05 respectively.
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Generated image: Midjourney