Monero Faces Significant Decline Ahead Of of Binance Delisting
Monero (XMR) has experienced a substantial downturn in its value, with a staggering 10% decline observed today. This decline positions Monero as the daily loser on Coinmarketcap, coinciding with the looming deadline set by Binance, the largest cryptocurrency exchange, to halt trading of Monero's XMR by February 20. Withdrawals for the token will cease on May 20, 2024. https://twitter.com/metaryuk/status/1759575508403327481?t=RtlZpBMDNNe8OHU3Mt1g5Q&s=19 Binance's decision to delist Monero stems from a comprehensive evaluation process that considered various factors beyond market performance. In addition to assessing project team commitment, development activity, trading volume, network stability, and open communication, Binance also scrutinized evidence of incompetence or unethical behavior within the Monero ecosystem. Notably, Monero has drawn significant governmental scrutiny due to concerns surrounding its potential utilization in illicit activities, given its robust privacy features. This regulatory spotlight has contributed to Binance's decision to delist the cryptocurrency, […]