The price of several privacy-focused cryptocurrencies, including Zcash (ZEC) and Monero (XMR), fell the past day after crypto exchange OKX said on Dec. 29 that it would delist them on Jan. 5 because they do not align with its listing criteria.

Data from CryptoSlate shows that the entire ‘privacy cryptos’ sector witnessed a decline of 3.4%, impacting major cryptocurrencies across the board. During the reporting period, stalwart privacy coins like Monero and Zcash dipped by 2.4% and 9.37%, respectively.

Other tokens to be delisted by OKX include Dash, Powerpool, and Horizen, which fell by as much as 14% during the reporting period.

“We will delist the above-mentioned trading pairs at the delisting times listed above. We advise users to cancel orders pertaining to these trading pairs before the delisting. Otherwise, the system will automatically cancel these orders. The cancellation may take 1-3 working days,” OKX added.

Concurrently, OKX has halted deposits for the affected cryptocurrencies and intends to cease withdrawals by March 5, 2024, allowing holders adequate time to withdraw their assets. Nevertheless, once the delisting process is complete, trading these digital assets will become impossible.

Curiously, certain privacy coins like MINA remain listed on the exchange, experiencing a 7.5% increase following this delisting announcement.

However, it’s worth noting that OKX is not exclusively delisting privacy tokens. The exchange also included other trading pairs belonging to digital assets like Kusama, Flow, Kyber Network, and Aragon in the assets to be delisted.

Why is OKX delisting privacy coins?

While OKX hasn’t explicitly detailed the reasons behind i

Go to Source to See Full Article
Author: Oluwapelumi Adejumo

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details