Monero’s Market Plummets 32% as Binance Announces Delisting
Binance, one of the largest cryptocurrency exchanges, has announced the delisting of Monero (XMR) from its platform. This has led to a significant drop in the value of Monero, with its market price plummeting by 32%. Binance’s decision to delist Monero has sparked turbulence in the cryptocurrency market.
The news of delisting has had a major impact on the value of Monero, causing it to hit a 5-month low. The delisting move has not only affected Monero but also other cryptocurrencies, including Multichain. The announcement has resulted in a 20% decline in the values of Monero and Multichain. This significant drop in market value is a reflection of the impact that Binance’s announcement has had on the cryptocurrency market overall.
The delisting of Monero on Binance has caused a rapid decline in the value of the privacy token, as well as other cryptocurrencies. This development has demonstrated the influence that major cryptocurrency exchanges have on the market and highlights the volatility of the cryptocurrency industry. The decision by Binance has sent shockwaves through the market, resulting in a 32% decrease in the value of Monero and plunging the cryptocurrency market into a state of turbulence.