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LTC/XMR pair to be ejected from Poloniex; China moves forward with PBoC’s plan to combat Bitcoin {BTC} dominance

Bitcoin

A popular exchange has decided to de-list a few trading pairs (a total of 23) from their platform. Poloniex, which frequently ranks amongst the top 20 exchanges around the globe has decided to remove these pairs due to less trading volume.

This change kicked-off from today. Poloniex has faced flak before many times, pairs were de-listed and people in the community were unable to withdraw their tokens. Do note that the helpline for this exchange has encountered problems prior to this. Some still consider this exchange to be a “scam”.

The creator of Litecoin, Charlie Lee, reacted to this news. It seems that Lee [who is also a member of the Litecoin Foundation] is sad with regards to this latest development.

Riccardo Spagni is one among the 7 major developers involved in the creation of Monero. XMR is a privacy-centric coin which ensures transactions and addresses of senders and receivers remain hidden from the public eye. However, not everybody is agitated, as few felt it was only a matter of time before such a move was initiated.

An official representing the People’s Bank of China has stated that the state-sponsored cryptocurrency will soon be rolled out. I can estimate that this new coin will see the light of the day by the end of 2020.

China had implemented a ban on bitcoin 6 years ago. This didn’t seem to work, as till date, the majority of the powerful mining pools are based in the same nation. The U.S.-China trade war had adversely affected the price of Yuan. This move will greatly enhance cryptocurrency adoption in the East.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.