Huobi to Delist Seven Privacy Tokens, Including Monero (XMR) and Zcash (ZEC)

Huobi, one of the world's leading crypto exchanges, has announced that it will delist seven seven privacy tokens in order to achieve compliance with tightening financial regulations.

Timeline of Monero, Zcash

Huobi Global has unveiled its plans to delist privacy tokens, counting Monero (XMR), Dash (DSH), Decred (DCR), Firo (FIRO), Verge (XVG), Zcash (ZEC) and Horizen (ZEN) as the digital assets that will be affected.

In recent years, the crypto market has seen countless projects come up from nowhere. However, most of these projects faded into oblivion and could not maintain high standards such as those exhibited by Bitcoin and Ethereum.

Zcash price analysis has a bearish outlook today. Its price tested the $64.5 mark twice in the last 48 hours but failed to break through, establishing a confirmed resistance level.

Introduction With hundreds of different currencies available, cryptocurrencies are the way of the future for trade. Youth are particularly interested in cryptocurrencies more than anyone else due to their volatility and inherent danger.

A Turkish-based cryptocurrency malware called ‘Nitrokod' has infected over 100,000 personal computers across 11 countries. What Happened: A new report from cybersecurity firm Check Point Research found that a malware application disguised as popular desktop applications has been making its way across the globe, largely undetected since 2019.

On August 13, Monero (XMR) successfully implemented a non-contentious hard fork at a block height of 2,688,888, enhancing the security and privacy features of the coin. This update introduced Bulletproofs+ algorithm, reducing transaction sizes by 5%-7% and improving verification performance by 5%-7%.

If you bought Monero [XMR] at its August top so far, you would be down by roughly 11.5% at its $153.55 press time price. And, if you purchased it at its bottom in June, you would still be up by roughly 58%.

Earlier today, the Monero (XMR) price jumped 7% and pierced the weekly resistance of $170. However, the price couldn't sustain above this level and reverted immediately, displaying a high price rejection indicating the sellers continue to defend this level.

The Monero (XMR) price has skyrocketed by over 7% in a day before the scheduled network hard fork on August 13. The privacy cryptocurrency protocol will undergo a network upgrade via a hard fork to improve transaction privacy, speed, security, wallet syncing, and reduce fee volatility.

Monero is the most popular privacy token in the space, and investors have flocked to it due to the anonymity it provides. Its community is widespread with a lot of miners, but one mining pool has dominated the hashrate of the privacy coin in the past.