The crypto-exchange OKX announced today that it will delist several spot trading pairs, including cryptocurrencies like Monero (XMR), Dash (DASH), and many others. OKX advises its users to cancel any orders related to these cryptocurrencies before their delisting, which is scheduled between January 4th and 5th, 2024.
The crypto-exchange OKX cleans up and delists trading pairs that include Monero, Dash, and more
According to today’s announcement by OKX, the crypto-exchange seems to have decided to clean up by removing some spot trading pairs from its list.
And indeed, between January 4th and 5th, 2024, a total of 20 spot trading pairs will be delisted including cryptocurrencies such as Monero (XMR), Dash (DASH), and Zcash (ZEC).
In the specific case of Monero, the pairs that will be delisted from January 5, 2024, are XMR-BTC, XMR-ETH, XMR-USDC, and XMR-USDT.
Other crypto coins involved in the delisting are KSM, FLOW, JST, KNC, ANT, FSN, ZKS, CAPO, and CVP.
OKX is also advising its traders to cancel the orders related to the indicated trading pairs before their delisting, otherwise the system will automatically cancel those orders.
The deletion after the official delisting date will occur within 1-3 working days, and there will be no possibility for users to retrieve their assets again.
Another OKX notice is then linked to the suspension of token deposits and withdrawals. And indeed, starting today, deposits for FSN, ZKS, CAPO, CVP, XMR, DASH, ZEC, and ZEN are suspended. Withdrawals of these tokens will be suspended from March 5, 2024.
OKX and the delisting of Monero and other tokens from the crypto-exchange: what are the reasons?
In order to justify this decision, OKX stated that these spot trading pairs no longer meet its listing criteria.
Here is how the crypto-exchange describes its intentions and motivations to users:
“In order to maintain a solid spot trading environment, we constantly monitor the performance of all quoted trading pairs and regularly review their listing qualifications.”
Not only that, after deleting the trading pairs that include Monero, Dash, and Zcash, OKX said it will also continue to monitor all the other listed trading pairs, using the same method to decide how to act.
The price performance of XMR and DASH
Looking at the price chart on CoinMarketCap, it is easy to notice how the 29th cryptocurrency by market capitalization, Monero (XMR), is not really riding the bull run like the other major cryptocurrencies.
And indeed, XMR is now worth $173, up only +4% compared to a month ago. Its monthly chart draws a bullish price trend curve but full of fluctuations.
If you look at the DASH chart, instead, the 129th cryptocurrency by market capitalization is experiencing a bull run month that is, however, a “recovery”. In fact, at the time of writing, DASH is worth $35, up 12% from a month ago, but far from its annual high of $74 reached in February 2023.
Source: https://en.cryptonomist.ch/2023/12/29/the-crypto-exchange-okx-cancels-20-trading-pairs-including-monero-and-dash/