In a bold move that has sent shockwaves through the cryptocurrency market, Binance has announced the upcoming delisting of four digital assets including the privacy-focused Monero. Traders and investors are scrambling as token values fluctuate in response.

Delisting Announcement

Binance, a leading cryptocurrency exchange, has made a decisive move to purge Aragon (ANT), Multichain (MULTI), Vai (VAI), and Monero (XMR) from its trading platform. The official statement released on February 6 indicates that these tokens will no longer be available for trading starting February 20, adhering to Binance’s rigorous standards for listing.

Impact on Token Prices

The announcement had an immediate and varied impact on the tokens’ prices. While VAI and ANT remained relatively stable, MULTi and XMR experienced a precipitous drop. MULTi saw a 27% decline in value, plummeting to $1.54, with a corresponding drop in market capitalization. Conversely, its trading volumes surged by nearly 190%, suggesting a flurry of activity as investors reposition their holdings.

Monero, known for its strong privacy features, was not spared either, witnessing a 17% decline. As of this report, XMR trades at $137.77, with trading volumes spiking by approximately 77% to reach $102 million.

Trading Pairs and Withdrawals

Traders should note that the following pairs will be affected: ANT/BTC, ANT/USDT, MULTI/USDT, USDT/VAI, XMR/BNB, XMR/BTC, XMR/ETH, and XMR/USDT. Post-delisting, all existing orders for these pairs will be automatically cancelled.

This move follows a similar action by OKX in December last year, which also delisted Monero among other privacy coins, citing failure to meet its listing criteria. OKX will allow withdrawals of these assets until March 5, 2024.

Conclusion

The crypto landscape is constantly evolving, with exchanges like Binance and OKX setting the pace through their listing policies. Investors and traders must stay vigilant and informed to navigate these changes effectively.