Bittrex, one of the popular crypto exchanges, has decided to delist well-known privacy coins. According to a recent announcement, Bittrex stated that it has plan to delist Monero, Dash and ZCash coins from its platform on January 15, 2021.
Bittrex Will Delist Privacy Coins ; XMR, DASH and ZEC
Following the SEC charges against Ripple (XRP), Bittrex was one of those first exchanges that immediately removed XRP and stopped any related activities. It seems, not only XRP, but also XMR, ZEC and DASH are the coins targeted by Bittrex In order to remove them from its platform. However, these plans are different.
As reported by Bittrex, It will stop trading activities for crypto pairs such as BTC/XMR, ETH/XMR, USDT/XMR, BTC/ZEC, ETH/ZEC, USDT/ZEC, USD/ZEC, BTC/DASH, ETH/DASH, USDT/DASH, and USD/DASH.
It is notable that customers have a 30-day deadline provided by Bittrex in order to withdraw their coins before delisting plan. Bittrex has noticed users to withdraw their funds as soon as possible since it may get done sooner and the exchange will lock the funds.
Reportedly, many exchanges removed XRP from their platform due to recent SEC lawsuit. SEC stated that Ripple Foundation has conducted unregistered security offering. Now, when it comes to recent plan of Bittrex for privacy coins removal, this company failed to present some justified reasons. Consequently, customers and analysts are somehow confused.
Privacy Coins Decline
Since such negative news would definitely impact the market, the price of Monero, ZCash and Dash declined following the announcement. Monero plummeted from $169 to $155, ZCash from $67 to $60 and finally Dash $102 to $95. Analysts also believe that price decline may continue unless the exchange reveals accurate reason.
It is worth noting that recently Grayscale bought a large amount of XRP on the New Year’s Eve. XRP price surged by 20% after the company’s purchase.