We are here with a shocking development for an altcoin in the cryptocurrency world. The move comes from the giant exchange Coinbase. Accordingly, amid regulatory trends, Zcash (ZEC) is restricting trading pairs to ‘limit orders only’. When it comes to the limitation, they inevitably come to mind what the next step will be. Estimates are delist-oriented. Let’s take a look at the details.
Giant exchange Coinbase restricts altcoin ZEC trading pairs
Cryptocurrency exchange Coinbase recently came to the fore with an important move. Accordingly, he made an important announcement regarding Zcash (ZEC), an altcoin that has been available on the platform for a long time. According to the announcement, Coinbase has decided to switch the ZEC-USD and ZEC-BTC trading pairs to “limit order only” mode. Ultimately, users will no longer have the option to execute “market orders” for these specific trading pairs on the exchange.
The exchange also does not provide a clear reason for implementing this update. However, it is important to consider the current cryptocurrency regulatory environment, where privacy coins such as altcoin Zcash face increasing scrutiny and restrictions around the world. Specifically, various European countries are putting pressure on cryptocurrency exchanges. It also leads to the delisting of privacy-focused altcoin projects in certain regions.
Impact on altcoin Zcash (ZEC) price
Described as a privacy coin and one of the largest in terms of market cap, Zcash reacted to this development. The altcoin price was affected following Coinbase’s decision to change the ZEC-USD and ZEC-BTC trading pairs to “limit orders only.” Accordingly, there was a subtle but noticeable drop in the price of ZEC.
It should not be forgotten that the crypto money industry is an active industry. Accordingly, there are developments that will deeply affect the availability and trading options of certain tokens. It is important to recognize that this market is subject to evolving regulatory dynamics as a result. Coinbase’s move to limit ZEC trading pairs to “limit orders only” is noteworthy. It also reflects the platform’s commitment to complying with regulatory requirements and adhering to emerging industry standards.
Privacy-focused cryptocurrencies
Regulatory scrutiny surrounding privacy-focused cryptocurrencies continues to evolve. On the other hand, it is very important for cryptocurrency exchanges and users to remain alert and adaptable in response to these changes.
Looking at cryptokoin.com, the impact of the move on altcoin ZEC trading is modest in the short term. But it highlights the trend for broader regulation in the digital asset space. These developments are also important for traders and investors. Because it can significantly affect the trading environment for certain cryptocurrencies. Therefore they should closely monitor developments in the regulatory environment.
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