Binance announced it will delist Monero (XMR) along with Aragon (ANT), Multichain (MULTI), and Vai (VAI) from its platform effective February 20, leading to a sharp decline in XMR’s value. Privacy coins like Monero are designed to obscure transaction details, making them less favorable to regulators and law enforcement agencies. The decision to delist these tokens comes as Binance seeks to maintain its listing standards and adapt to industry changes. Monero plummeted approximately 30% to a 20-month low of $114.26 following the announcement, according to TradingView data. Multichain, previously a major bridging protocol, experienced a significant decline of 36% to $1.36 after suffering a $130 million exploit and ceasing operations due to legal issues. Withdrawals for the delisted tokens will no longer be supported after May 20, further impacting their liquidity and availability on exchanges.
Not financial advice.
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