Leading Crypto Exchange to Delist 20 Crypto Coin/Tokens

One of the leading centralized cryptocurrency exchanges, OKX, intends to delist around 20 cryptocurrencies in 2024. The exchange has already imposed a ban on depositing these tokens/coins per the available information.

Dash(DASH), Monera(XMR), and Zcash (ZEC) are some major tokens that will be entirely removed from the OKX’s ecosystem by January 5, 2023. However, the exchange did not justify any significant reason behind the delisting.

The exchange notified its users that if they are holding any of them, the last day to withdraw their funds is March 5, 2024.

Source: Latest Announcement of OKX from its website

According to OKX executives, the move is motivated by the exchange’s dedication to uphold a “robust spot trading environment.” 

To guarantee ideal market circumstances, the team monitors the performance of every listed trading pair and routinely evaluates each pair’s listing requirements.

Currently, there are 324 currencies and 482 trade pairings listed on the exchange. The exchange has $12.3 Billion in exchange reserves and is in the top 10 exchanges by volume.

Other Major Delistings in 2023

The cryptocurrency exchange Binance declared on December 23 that it will eliminate more spot trading pairings. 

The controversy surrounding money laundering at the Bitcoin exchange has prompted the decision to remove margin trading pairs from the market.

The British Pound (GBP) is linked to the elimination of pairs. The two groups mentioned above, which are scheduled to cease trading on December 29, 2023, are Cardano (ADA), Bitcoin (BTC), Dogecoin (DOGE), and XRP.

Intraday Gainers & Losers

Bitcoin, the crypto market leader, showed significant growth in the last quarter of 2023 (so far). When writing, it was trading at $42,084 with an intraday trading volume of $22,084,863,560.

For the past few months, the crypto market has been performing positively, but a slowdown in the price action was seen following the Christmas festival, which is celebrated on December 25.

In the past 24 hours, Casper’s (CSPR) price grew 13.33%, followed by the FTT token with $12.07%, Toncoin at 6.63%, and a few others are on the list. However, the primary reason behind the surge is the sudden boost in the trading volume. 

Bonk, a popular meme-coin, lost 10.49% of its trading price in the past 24 hours. Stacks’ price declined around 7.95%, and Bitcoin SV, which is at the top of the list in the past few days, lost 7.15% and is trading at $96.67 at the time of writing.

Disclaimer

The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.