Aragon

Multichain

Monero

<div class="coinjournal">
 <ul>
  <li>Binance delists Monero (XMR) along with other assets, causing a 19% price drop.</li>
  <li>Monero’s delisting reflects regulatory pressure on privacy coins in the crypto market.</li>
  <li>Monero withdrawals from Binance will be supported until May 20.</li>
 </ul>
 <p>Monero (XMR), one of the leading privacy-focused cryptocurrencies, is experiencing a significant drop in its price following a <a rel="noopener noreferrer nofollow" title="delisting" href="https://thebittimes.com/tag/delisting.html">delisting</a> announcement from Binance, the world’s largest cryptocurrency exchange.</p>
 <p>Binance revealed its decision to <a rel="noopener noreferrer nofollow" title="delist" href="https://thebittimes.com/tag/delist.html">delist</a> Monero along with several other assets, including Aragon (ANT), Multichain (MULTI), and Vai (VAI), effective February 20.</p>
 <h2 id="monero-price-post-binance-delisting">Monero price post Binance delisting&nbsp;</h2>
 <p>Binance’s decision to delist Monero (XMR) comes as part of its ongoing efforts to uphold compliance standards and ensure the safety and integrity of its platform. The exchange cited various reasons for the delisting, including considerations such as trading volume, liquidity, stability, safety, public communication, and evidence of unethical or fraudulent conduct.</p>
 <p>At press time, Monero’s price had dropped by more than 19% in response to the news, trading at $134.24.</p>
 <div class="fr-img-space-wrap"><span class="fr-img-caption fr-fic fr-dib fr-draggable" style="width: 100%"><span class="fr-img-wrap"> <p><img decoding="async" src="https://cdn.thebittimes.com/images/2024/02/06/9279e981cadf1087e83910c93fa7629c.webp" class="fr-fic fr-dib" width="615" height="381"><span class="fr-inner" style="background: transparent;position: relative"><em>Monero price chart</em></span></p> <p></p></span></span>
  <p class="fr-img-space-wrap2">&nbsp;</p>
 </div>
 <p>This swift decline underscores the immediate impact of exchange decisions on cryptocurrency prices and investor sentiment.</p>
 <h2 id="implications-of-the-delisting">Implications of the delisting</h2>
 <p>The <a rel="noopener noreferrer nofollow" title="delisting" href="https://thebittimes.com/tag/delisting.html">delisting</a> of Monero from Binance marks a significant development in the cryptocurrency landscape, particularly for privacy-focused digital assets. Monero, known for its robust privacy <a rel="noopener noreferrer nofollow" title="Category Features" href="https://thebittimes.com/features.html">Features</a> that obscure transaction details, has often faced regulatory scrutiny due to concerns about its potential use in illicit activities.</p>
 <p>Binance’s move to remove Monero from its platform reflects a broader trend of regulatory pressure on privacy coins. By discontinuing support for Monero trading and withdrawals, Binance aims to mitigate regulatory risks and enhance compliance efforts, aligning with evolving industry standards.</p>
 <p>Investors and users of Monero will need to adjust their strategies accordingly in response to Binance’s <a rel="noopener noreferrer nofollow" title="delisting" href="https://thebittimes.com/tag/delisting.html">delisting</a> decision. While withdrawals of Monero will be supported until May 20, users may consider alternative platforms or wallets for trading and storing their XMR holdings.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/monero-xmr-dips-after-binance-announced-delisting-tbt79038.html">https://thebittimes.com/monero-xmr-dips-after-binance-announced-delisting-tbt79038.html</a></p>

Monero (XMR) dips after Binance announced delisting

Table of Contents

TheBitTimes

Other articles published on Feb 6, 2024

Dogecoin’s Market Performance and Future Prospects

Why Investors From Internet Computer (ICP) And Dogecoin (DOGE) Are Rushing to Buy Into the New Ke...

SEC wins motion to compel Ripple to provide additional documents

Saudi Arabia moves to get back with U.S. after ditching BRICS

The growing importance of privacy amongst customers and how businesses should cater to it

XRP Lawsuit Update : Judge’s Order Raises Questions About Ripple’s ODL Future

Join our free newsletter for daily crypto updates!