OKX Crypto Landscape: Delisting Privacy Tokens In 2024

OKX has announced its decision to delist several trading pairs, including major privacy tokens like Monero (XMR) and Zcash (ZEC), in early 2024. The move, disclosed on Dec 29, responds to user feedback and aligns with OKX’s token delisting guidelines.

On Jan 5, 2024, OKX will remove 11 trading pairs involving privacy-focused tokens. Examples include Monero, currently valued at $170, and Zcash, presently valued at $29. Furthermore, the delisting has partly private coins like Dash ($34) and Horizen (ZEN).

The delisting of privacy and privacy-related currencies by OKX. Source: OKX

OKX highlighted its dedication to keeping a strong spot trading area. They watch regularly how all listed trade pairs are doing. The choice to take down these pairs was made because of what users said and following the rules for removing tokens from the market.

OKX stopped taking money for certain coins and hiding details to fit the rules better. These include Monero, Dash, Zcash, and Horizen on Dec 27. From Mar 5, 2024 onwards, the website will stop people from collecting money for these coins. The exchange agreed to keep watching the stocks in trading pairs and will take them away or hide them if needed.

OKX $3 Billion Daily Volume and Delisting Decision

OKX is recognized as one of the largest cryptocurrency exchanges globally, boasting a daily trading volume of at least $3 billion, according to CoinGecko. As of now, OKX lists 482 trading pairs, encompassing various cryptocurrencies. However, following the delisting decision, the exchange will no longer support four Monero pairs, two Dash pairs, three Zcash pairs, and two Horizen pairs.

In addition, the move by the exchange to delist privacy-linked tokens follows a wider industry trend. These include Huobi and Binance, who, in the past, have delisted privacy tokens, blaming compliance efforts and token-related regulations.

In a notable U-turn, Binance reconsidered its decision to delist privacy coins by June 2023. This May, the move indicates further rethinking as the industry tries not to ignore cryptocurrency regulation and keep up with regulatory compliance.

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Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.

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