Monero Price Drops 15% Following Binance Delisting Announcement

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.

The price of Monero plummeted over 15% within three hours following the announcement.

Multichain’s decline reached 23%, according to CoinGecko. Aragon’s price returned to its initial levels, showing a 0.2% increase. Vai’s quotations fell by 0.4%.

After February 20 at 3:00 UTC, the platform’s team will disable deposits and withdrawals for the specified assets.

Tokens may be converted into stablecoins in the future, although this is not guaranteed, the organization warned.

The delisting will affect the following trading pairs:

• XMR/BNB;
• XMR/BTC;
• XMR/ETH;
• XMR/USDT;
• ANT/BTC;
• ANT/USDT;
• MULTI/USDT;
• USDT/VAI.

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.

On February 16 at 6:00 UTC, the exchange will cease to consider XMR, ANT, MULTI in cross and isolated margin calculations.

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’s terms before this date.

The delisting will not affect the perpetual USDⓈ-M contracts XMRUSDT and ANTUSDT. Users will still be able to trade them.

The decision to remove XMR, ANT, MULTI, and VAI followed a routine review to ensure assets meet high standards.

“When 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,” the statement reads.

Factors considered include:

• the team’s commitment to the project;
• the level and quality of developer activity;
• trading volume and liquidity;
• network stability and security against attacks;
• network/smart contract stability;
• level of public communication;
• responsiveness to periodic due diligence requests;
• evidence of unethical/fraudulent conduct or negligence;
• contribution to the crypto ecosystem’s sustainability.

Earlier this year, Binance classified Zcash and Monero as high-risk crypto assets.

In January, cryptocurrency exchange OKX delisted several privacy-focused coins, including DASH, XMR, ZEC, and ZEN.