OKX Crypto Exchange Announces Plans to Delist Privacy Coins in 2024 – What’s Going On?

nexninja
4 Min Read

Supply: AdobeStock / Krakenimages.com

Crypto trade OKX will delist eight privacy-focused cash in a couple of days. These embody monero (XMR), zcash (ZEC). and sprint (DASH), amongst others.

According to the press launch, apart from the above-mentioned XMR, ZEC, and DASH, the transfer can even have an effect on FSN, ZKS, CAPO, CVP, and ZEN.

Suspension and Delisting


OKX has already suspended the deposits of the eight tokens listed above on December 27, 2023.

“Please handle your property promptly,” it suggested.

The withdrawals can even be suspended, however that can occur on March 5, 2024.

The trade said that, to be able to keep “a sturdy spot buying and selling setting,” the staff is consistently monitoring the efficiency of all listed buying and selling pairs. Moreover, it critiques their itemizing {qualifications}.

OKX said that,

“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.”

With that in thoughts, it stated it might delist twenty buying and selling pairs in early January subsequent yr – so in lower than per week.

These contain bitcoin (BTC), ethereum (ETH), USDC coin (USDC), and tether (USDT).

To be extra exact, on January 4, the trade will delist KSM-USDC, FLOW-USDC, JST-USDC, KNC-USDC, ANT-USDC, FSN-USDT, ZKS-USDT, CAPO-USDT, and CVP-USDT.

The next day, it can do the identical for XMR-BTC, XMR-ETH, XMR-USDT, XMR-USDC, DASH-BTC, DASH-USDT, ZEC-BTC, ZEC-USDT, ZEC-USDC, ZEN-BTC, and ZEN-USDT.

The trade added that customers ought to cancel orders pertaining to those buying and selling pairs earlier than the delisting.

If they don’t, the system will mechanically cancel the orders. The cancellation could take 1-3 working days.

Practically 500 Pairs Listed


OKX has 324 cash and 482 buying and selling pairs out there in the intervening time, in response to CoinGecko. It has $12.3 billion in Change Reserves.

Moreover, it is among the high 10 exchanges by quantity. The trade’s 24-hour quantity is $3.2 billion, representing a 12% drop during the last day.

Probably the most lively buying and selling pair is BTC/USDT, with a 24-hour quantity of $589 million.

ETH/USDT, SOL/USDT, ORDI/USDT, and FIL/USDT comply with.

Eight of the highest 10 pairs contain USDT and two USDC.

Supply: coingecko.com

In the meantime, in October, OKX launched its proof of reserves of all buyer funds in mild of the FTX fiasco and Grayscale’s failure to show their reserves, it said. The trade managed BTC, ETH, and USDT in extra of 100% of person holdings, which means that each one property have been backed 1:1 or extra.

In November, OKX announced its official launch in Brazil, providing customers superior crypto options, together with buying and selling and staking rewards.

Earlier in December, on-chain analytics agency CCData’s Change Overview found that UpbitBybit, and OKX made the most important achieve in spot market share year-to-date. They elevated their dominance by 6.39%, 4.89%, and three.86% to 9.20%, 5.80%, and seven.41%, respectively.

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