In a strategic move to bolster the USDⓈ ecosystem, OKX has announced the introduction of a new spot trading pair featuring Zcash (ZEC) against USDⓈ. This addition is set to go live on November 24, 2025, at 15: 00 UTC, according to OKX. New Trading Pair Details The launch of the ZEC/USDⓈ trading pair is part of OKX’s ongoing efforts to cater to the diverse trading needs of its users. By expanding its trading offerings, OKX aims to enhance its appeal to cryptocurrency traders who are looking for more variety in their trading options. Initial Trading Restrictions To ensure a stable trading environment during the initial phase of the launch, OKX has set specific rules for the opening of spot trading. For the first five minutes, market orders will not be permitted, and each limit order will be capped at a maximum value of 10, 000 USD. These measures are intended to mitigate price volatility and protect traders from potential market fluctuations. After the initial five minutes, these restrictions will be lifted, allowing for regular trading activities. Growth of the USDⓈ Ecosystem OKX’s decision to introduce the ZEC/USDⓈ pair aligns with its strategy to support the growth of the USDⓈ ecosystem. The platform has been actively expanding its range of USDⓈ trading pairs, aiming to provide users with a broader selection of trading options and to foster a more robust and diverse trading environment. As OKX continues to enhance its platform offerings, the addition of new trading pairs such as ZEC/USDⓈ is expected to attract more traders and enhance liquidity within the exchange. This move is anticipated to further position OKX as a leading platform in the cryptocurrency trading space, offering a wide array of trading options to its users.
https://bitcoinethereumnews.com/tech/okx-to-introduce-spot-trading-for-zcash-zec-with-usd%e2%93%a2-pair/
Tag: fluctuations
Cardano whale loses 90% ADA after conversion to an illiquid stablecoin
Key Takeaways Why did the whale lose $6M? The low liquidity triggered fluctuations and a subsequent devaluation of the swapped funds. What’s the status of Cardano DeFi? Besides a relatively low TVL, Cardano’s ecosystem is struggling with a limited stablecoin supply. A Cardano [ADA] whale got a painful lesson on trading on illiquid platforms over the weekend. The 5-year-old holder swapped 14. 4 million ADA tokens, worth $6. 9 million, for only 847, 695 USDA, a little-known USD-backed stablecoin by Anzens on the Cardano blockchain. That translated to a $6. 05 million loss or about 90% devaluation of his initially transferred ADA stash. According to renowned Web3 security analyst ZachXBT, the fluctuation was due to the stablecoin’s low liquidity. Interestingly, the whale made a small transfer as a test before making the ill-fated large transfer. As of writing, he scooped Turtlecoin (TRTL) and other lesser-known coins. Cardano DeFi liquidity problem That said, the Anzens USDA had only $10 million in market cap, underscoring its liquidity risk, especially for large transactions. For a frictionless trading experience, the volume and liquidity of a platform, as well as its assets, are always crucial. Players can smoothly enter and exit positions without distorting the market or incurring losses in a more liquid venue. On centralized platforms, Binance, Coinbase, and others rank high in terms of liquidity, which attracts players with large orders. On on-chain platforms, DEXes across Ethereum [ETH], Hyperliquid [HYPE], Solana [SOL], and BNB Chain platforms have demonstrated significant liquidity depths, providing a smooth experience. But such depths are lacking across the Cardano ecosystem. Its low stablecoin supply is one of the telltale signs of Cardano’s DeFi inefficiency. It had only $38 million in stablecoin liquidity, mostly dominated by Moneta dollar (USDM) and Anzens USDA. In contrast, BNB Chain has a stablecoin supply of $13. 3 billion, while Solana has of $13. 4 billion. Hyperliquid, on the other hand, has $4. 7 billion. Put differently, Cardano has a stablecoin supply of less than 0. 3%, compared to Solana and BNB Chain. Its TVL (total value locked) is relatively low ($226m) as well. Yet, these are its L1 competitors. In June, Charles Hoskinson, the founder of Cardano, admitted that the limited stablecoin supply was harming its DeFi growth. Recent plans to integrate with the Bitcoin[ BTC] network or swap some of the ADA treasury into BTC have been met with mixed reactions. However, none appears to be addressing its DeFi issues, at least as of writing.
https://bitcoinethereumnews.com/tech/cardano-whale-loses-90-ada-after-conversion-to-an-illiquid-stablecoin/