Binance May Remove XMR and ZEC from Trading Pairs
Date: 2023-12-30 Author: Dima Zakharov Categories: CRYPTO PAYMENTS
Cryptocurrency researcher Colin Wu has raised concerns about the trading status of Monero (XMR), Horizen (ZEN), Zcash (ZEC), and other privacy-focused digital currencies on the Binance exchange. Wu suggests that Binance might take the step of delisting these assets in the near future.
This news follows an announcement from OKX, another major cryptocurrency exchange, stating its intention to remove almost all privacy tokens from its trading pairs. Deposits for FSN, ZKS, CAPO, CVP, XMR, DASH, ZEC, and ZEN have been suspended on the OKX platform.
Monero (XMR), Horizen (ZEN), and Zcash (ZEC) are examples of privacy-focused cryptocurrencies designed to provide anonymity and transaction privacy. Monero, created in 2014, utilizes cryptographic protocols such as ring signatures and confidential addresses to conceal sender, recipient, and transaction amounts.
Horizen, formerly known as ZenCash, was established in 2017 with a focus on privacy, security, and scalability. It employs zk-SNARKs and zk-STARKs protocols for transaction anonymity and data recording in the blockchain.
Zcash, launched in 2016, also aims to ensure privacy and transaction confidentiality. It employs zk-SNARKs protocols to safeguard the anonymity of transaction participants.
Both Binance and OKX are prominent cryptocurrency exchanges globally, offering various services and high liquidity to users. They facilitate cryptocurrency trading and provide secure handling of user funds, including deposit and withdrawal options like bank transfers.
