{"id":10457,"date":"2024-02-06T12:53:18","date_gmt":"2024-02-06T10:53:18","guid":{"rendered":"https:\/\/forklog.com\/en\/monero-price-drops-15-following-binance-delisting-announcement\/"},"modified":"2024-02-06T12:53:18","modified_gmt":"2024-02-06T10:53:18","slug":"monero-price-drops-15-following-binance-delisting-announcement","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/monero-price-drops-15-following-binance-delisting-announcement\/","title":{"rendered":"Monero Price Drops 15% Following Binance Delisting Announcement"},"content":{"rendered":"<p>On February 20 at 3:00 UTC, cryptocurrency exchange Binance will <a href=\"https:\/\/www.binance.com\/en\/support\/announcement\/binance-will-delist-ant-multi-vai-xmr-on-2024-02-20-f73b083ba6834771b07dbe5319917ae5\">remove<\/a> Aragon (ANT), Multichain (MULTI), Vai (VAI), and Monero (XMR) from its list of tradable assets.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">February 6, 2024 | 17:42<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>In response to the delisting decision, Monero developers stated they would never compromise on privacy and advised trading XMR on other platforms.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Monero will never compromise on privacy. <\/p>\n<p>You can trade Monero on other exchanges, on DEXs, and with atomic swaps. Please self-custody your XMR. <a href=\"https:\/\/t.co\/Uba3GwZMRW\">https:\/\/t.co\/Uba3GwZMRW<\/a><\/p>\n<p>\u2014 Monero (XMR) (@monero) <a href=\"https:\/\/twitter.com\/monero\/status\/1754877964133552501?ref_src=twsrc%5Etfw\">February 6, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<p>The price of Monero plummeted over 15% within three hours following the announcement.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-901.webp\" alt=\"1-901\" class=\"wp-image-225436\"\/><figcaption class=\"wp-element-caption\">Hourly chart of XMR\/USDT on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/XMRUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Multichain&#8217;s decline <a href=\"https:\/\/www.coingecko.com\/en\/coins\/multichain\">reached 23%<\/a>, according to CoinGecko. Aragon&#8217;s price returned to its initial levels, showing a <a href=\"https:\/\/www.coingecko.com\/en\/coins\/aragon\">0.2% increase<\/a>. Vai&#8217;s quotations <a href=\"https:\/\/www.coingecko.com\/en\/coins\/vai\">fell by 0.4%<\/a>.<\/p>\n<p>After February 20 at 3:00 UTC, the platform&#8217;s team will disable deposits and withdrawals for the specified assets.<\/p>\n<p>Tokens may be converted into stablecoins in the future, although this is not guaranteed, the organization warned.<\/p>\n<p>The delisting will affect the following trading pairs:<\/p>\n<ul class=\"wp-block-list\">\n<li>XMR\/BNB;<\/li>\n<li>XMR\/BTC;<\/li>\n<li>XMR\/ETH;<\/li>\n<li>XMR\/USDT;<\/li>\n<li>ANT\/BTC;<\/li>\n<li>ANT\/USDT;<\/li>\n<li>MULTI\/USDT;<\/li>\n<li>USDT\/VAI.<\/li>\n<\/ul>\n<p>Accordingly, the composition of Binance Simple Earn, Binance Auto-Invest, Binance Loans, VIP Loan, Binance Gift Card, Binance Pay, and the trading bot service will also change.<\/p>\n<p>On February 16 at 6:00 UTC, the exchange will cease to consider XMR, ANT, MULTI in cross and isolated margin calculations.<\/p>\n<p>On February 15 at 9:00 UTC, Binance Futures will close all positions and conduct an automatic settlement on the perpetual Coin-M XMRUSD contract. The platform warned of potential significant changes to the instrument&#8217;s terms before this date.<\/p>\n<p>The delisting will not affect the perpetual USD\u24c8-M contracts XMRUSDT and <a href=\"https:\/\/www.binance.com\/en\/futures\/ANTUSDT\">ANTUSDT<\/a>. Users will still be able to trade them.<\/p>\n<p>The decision to remove XMR, ANT, MULTI, and VAI followed a routine review to ensure assets meet high standards.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite><em>\u201cWhen a coin or token fails to meet this requirement, we conduct a more thorough analysis, which may lead to delisting. We believe this best protects our users,\u201d<\/em> the statement reads.<\/cite><\/p><\/blockquote>\n<p>Factors considered include:<\/p>\n<ul class=\"wp-block-list\">\n<li>the team&#8217;s commitment to the project;<\/li>\n<li>the level and quality of developer activity;<\/li>\n<li>trading volume and liquidity;<\/li>\n<li>network stability and security against attacks;<\/li>\n<li>network\/smart contract stability;<\/li>\n<li>level of public communication;<\/li>\n<li>responsiveness to periodic due diligence requests;<\/li>\n<li>evidence of unethical\/fraudulent conduct or negligence;<\/li>\n<li>contribution to the crypto ecosystem&#8217;s sustainability.<\/li>\n<\/ul>\n<p>Earlier this year, Binance <a href=\"https:\/\/u1f987.com\/en\/news\/binance-labels-zcash-and-monero-as-high-risk-assets\">classified<\/a> Zcash and Monero as high-risk crypto assets.<\/p>\n<p>In January, cryptocurrency exchange OKX delisted several privacy-focused coins, including DASH, XMR, ZEC, and ZEN.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On February 20 at 3:00 UTC, cryptocurrency exchange Binance will remove Aragon (ANT), Multichain (MULTI), Vai (VAI), and Monero (XMR) from its list of tradable assets. February 6, 2024 | 17:42Update: In response to the delisting decision, Monero developers stated they would never compromise on privacy and advised trading XMR on other platforms. Monero will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1166,513,596],"class_list":["post-10457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-centralized-exchanges-cex","tag-monero","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"109","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=10457"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/10457\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/10456"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=10457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=10457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=10457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}