Monero Faces Sharp Decline as Binance Announces Delisting
Binance announces Monero delisting, affecting trading pairs and withdrawals. Market reacts with XMR price drop. Regulatory pressures contribute to exchange's decision.
![image Edmund](https://image.coinlive.com/24x24/cryptotwits-static/2488f86d7c9c42855a452b202bf85f6c.png)
Binance announces Monero delisting, affecting trading pairs and withdrawals. Market reacts with XMR price drop. Regulatory pressures contribute to exchange's decision.
Binance delists trading pairs like COMBO/BNB and NEO/ETH from January 26 due to poor liquidity. Market response shows positive performance. The move is part of Binance's ongoing review initiatives, including the recent addition of tokens to its Monitoring Tag list.
Market instability grips privacy coins Monero (XMR) and Zcash (ZEC) due to regulatory scrutiny, risking delisting from major platforms. Bitcoin's dominance rises in South Korea, echoing 2020 trends, while Solana (SOL) outperforms in altcoin trading. However, newly listed PYUSD struggles to gain traction. The impending SEC decision on Ark's Bitcoin ETF adds uncertainty, reflecting potential market volatility. Post-crash analysis uncovers concerns, including increased price slippage and excessive leverage in the futures market. Overall, privacy tokens face regulatory and liquidity challenges while Bitcoin anticipates SEC-driven turbulence.
The delisting of Zcash and Monero symbolizes the growing challenges an industry faces as it seeks to align with a global financial system that values both privacy and transparency. With the compliance deadline approaching, the cryptocurrency community watches intently, anticipating how this balance will be managed and what lies ahead for privacy-centric digital currencies.
Uphold's Canada-bound delisting hits major cryptocurrencies, sparing XRP amid regulatory compliance.
This confirmation came after reports emerged on November 1st that BCH had disappeared from the trading support list on the EDXM website.
The GUSD stablecoin has been fluctuating over the past week and went as low as $0.98.
Exchanges like Binance, BitMEX, and OKX are limiting deposits and withdrawals for Solana’s top stablecoins, without explanation.
Crypto regulations in South Korea require exchanges to enforce strict KYC and AML guidelines and major crypto exchanges have delisted privacy coins in the past as well.