Crypto firm Gate.io has announced that it will discontinue perpetual contracts for five popular privacy coins. Starting from December 25, 2024, trading for monero (XMR), dash (DASH), zcash (ZEC), horizen (ZEN), and verge (XVG) will only allow closing existing positions, with all trading coming to a complete stop by December 26. The exchange will settle remaining positions based on the average index price from the 30 minutes prior to delisting. Gate.io aims to protect traders and ensure a smooth transition but did not explicitly cite regulatory concerns as the reason for this decision. The market cap for privacy coins has seen a 10.4% decrease over the past 24 hours, reflecting potential impact from Gate.io's announcement.



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