Join 78,986 users and earn money for participation

Monero, ZCash & Dash tumble following Bittrex delisting news

0 3 exc boost
Avatar for ircrp
Written by   3
11 months ago

Further to the announcement of Bittrex towards the end of last year that it will be suspending $XRP trades, a further stir of uncertainty among other cryptocurrencies has been caused with Bittrex announcing on beginning of the year that they will fully delist three privacy oriented cryptocurrencies including Monero (XMR), ZCash(ZEC) & Dash from their markets effective with 15th of January 2021.

  • The news broke on 1st of January around 17:15 UTC time with Monero being at almost 7% of an upside since the yearly open and just a percentage away from testing previous year all time high set at around $170... A tweet from Bittrex has caused a stir among investors with the announcement of delisting, with the price quickly tumbling to the downside with a loss of over 15% of its price in just over an hour.

  • ZCash and Dash have followed a similar trajectory with Dash showing so far slightly better support zones of the price with the price tumbling around 10%, compared to Monero or ZCash which have both fallen well over 15% since the announcement.

  • The exchange has not provided any announcement so far as to the reasoning behind the delistings, however many are speculating around the regulatory scrutiny which privacy coins have been going throughout last months, with perhaps the stir around the Ripple and XRP suspensions pushing exchanges compliance departments to reevaluate the risk factors they're willing to take with some of the cryptocurrency projects.

1
$ 0.00
Avatar for ircrp
Written by   3
11 months ago
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments