Monero Falls to Lowest Level in 5 Months Following Binance Delisting Announcement

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Privacy-oriented cryptocurrency Monero has experienced a significant drop in its value after popular exchange Binance announced plans to remove it from its platform.

Alongside other tokens including Aragon, Multichain, and Vai, Monero will be delisted on February 20, 2024. This will result in the removal of all four trading pairs involving Monero, including those against Bitcoin, Ether, Tether, and Binance Coin.

Binance has stated that all trade orders will be automatically removed and withdrawals will not be supported after May 20, 2024.

However, there may still be an option to convert delisted XMR into stablecoins after May 21, although this is not guaranteed.