OKX Delists Trading Pairs, Including Monero and Dash
OKX, one of the largest cryptocurrency exchanges, has announced that it will be delisting several trading pairs simultaneously. The delisting will affect stablecoin USD Coin (USDC), Tether (USDT), and Bitcoin (BTC) trading pairs with privacy-focused cryptocurrencies such as Monero (XMR) and Dash (DASH). The removal of these trading pairs is scheduled to take place on January 4 and 5, 2024.
Reasons Behind the Decision
The exact reason for OKX’s decision to delist these trading pairs remains unknown. However, according to an announcement made by the platform on December 29, they continuously monitor the performance of all listed trading pairs and review their qualifications regularly to maintain a robust spot trading environment.
Cancellation of Orders and Suspension of Deposits
OKX advises users to cancel their orders for these delisted trading pairs before the specified dates to avoid automatic cancellation within 1-3 business days. Additionally, the exchange had already suspended accepting deposits in currencies like XMR and DASH on December 27. Withdrawals for these currencies will be suspended starting March 5, 2024.
OKX’s Principles for Selecting Cryptocurrencies
The CEO of OKX previously outlined five guiding principles that the company follows when selecting cryptocurrencies for listing. These principles emphasize transparency, infrastructure development, technological advancements, and specific criteria for both spot and futures trading. By adhering to these principles, OKX aims to ensure a reliable and efficient trading environment for its users.
Hot Take: OKX Takes Steps Towards Enhanced Trading Environment
OKX’s decision to delist certain trading pairs, including Monero and Dash, is a strategic move aimed at maintaining a robust spot trading environment. By continuously monitoring the performance and qualifications of listed trading pairs, OKX demonstrates its commitment to transparency and user satisfaction. These delistings also align with the company’s guiding principles for selecting cryptocurrencies, which prioritize infrastructure development and technological advancements. While the exact reasons behind the delisting remain undisclosed, OKX’s actions highlight its dedication to providing a reliable and efficient platform for crypto traders.
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