Crypto analysis: OKX Delisting Shakes Dash and Zcash, Prices Drop by 10%

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 Dash and Zcash 10 % price decrease after OKX delisting announcement

 

Dash and Zcash price drop 10% after OKX announcement

OKX, which is the world's fourth-largest cryptocurrency exchange, has shared that it will remove certain crypto tokens on December 28th, 2023. The reason behind this decision is that these tokens don't meet OKX's listing criteria, which is based on user feedback and their own guidelines.

The tokens to be removed are divided into two groups. The first group, including KSM-USDC, FLOW-USDC, JST-USDC, KNC-USDC, ANT-USDC, FSN-USDT, ZKS-USDT, CAPO-USDT, CVP-USDT, will be delisted on January 4th. The second group, consisting of XMR-BTC, XMR-ETH, XMR-USDT, XMR-USDC, DASH-BTC, DASH-USDT, ZEC-BTC, ZEC-USDT, ZEC-USDC, ZEN-BTC, and ZEN-USDT, will be delisted on January 5th.

This removal has affected the cryptocurrencies involved. Zcash (ZEC) and Dash (DASH) have experienced significant drops, with both decreasing by nearly 10%. Zcash, at the time of writing, fell below $30 and was trading at $29.02. This 9.8% drop caused the altcoin to go below the 50, 100, and 200-day Exponential Moving Averages (EMA).

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Similarly, Dash's price reacted by dropping more than 10%, settling at $33.30. At the time of writing, Dash hadn't shown much recovery. However, the presence of the Relative Strength Index (RSI) above the neutral line at the 50.0 mark is seen as a positive sign for investors.