Posted 2/20/2024, 3:34:49 PM
Binance Delists Privacy Coin Monero Amid Regulatory Concerns Despite Market Recovery
- Binance has officially delisted Monero (XMR) as of February 20 amid scrutiny from regulators over the coin's privacy features
- Delisting comes despite a surprising market response, with XMR recovering to near pre-announcement prices after an initial 36% price drop
- Other major exchanges like Kraken, KuCoin, and Bitfinex still list XMR, but Binance was the largest by volume
- Traders reported issues withdrawing XMR from Binance ahead of the delisting deadline, sparking manipulation accusations
- Despite the delisting, technical indicators remain bearish for XMR in the short term due to the February 6 crash and oversold conditions