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Binance Will Delist XMR on 2024-February-20
(monero.town)
**Binance Will Delist ANT, MULTI, VAI, XMR on 2024-02-20**
This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all our users.
Based on our most recent reviews, we have decided to delist and cease trading on all trading pairs for the following token(s) at 2024-02-20 03:00 (UTC):
Aragon (ANT)
Multichain (MULTI)
Vai (VAI)
Monero (XMR)
Please note:
The exact trading pairs being removed are: ANT/BTC, ANT/USDT, MULTI/USDT, USDT/VAI, XMR/BNB, XMR/BTC, XMR/ETH, XMR/USDT
All trade orders will be automatically removed after trading ceases in each respective trading pair.
To view your assets after trading ceases, please ensure you have not selected “Hide Small Balances” in all of your wallets.
Deposits of these token(s) after 2024-02-21 03:00 (UTC) will not be credited to your account.
Withdrawals of these token(s) from Binance will not be supported after 2024-05-20 03:00 (UTC).
It's not that rough. This is a sell the news event. Panic selling is happening. But many of us believe and have seen evidence supporting the case that, due to Monero's opaque blockchain, exchanges are trading monero that don't exist and so are suppressing the price, counterfeitting monero if you will. Many of us think that as these delistings occur, because monero has real demand as currency on many online marketplaces, liquidity shouldn't shrink that much and prices will begin to rise. We expect a supply, not demand, crunch due to this. Other currencies won't fare as well because a majority of their liquidity is on exchanges and not marketplaces. Monero is actually used, and people will keep using it, and if they can't get it from binance they'll have to get it somewhere, and the harder it is to get it the more they'll pay for it.
Just from a personal perspective losing binance makes it harder for me to get other people to adopt xmr payments. I see what your saying about the strength of the ecosystem.
Are you aware of Localmonero? Also with services like Allark, Coincards, ShopInBit, ProxyStore, Monezon and AnonShop I don't really see a big problem of converting your XMR into fiat or products you need :)
For me, yes, it's fine.
Convincing a service provider to accept XMR is going ot be harder, before you just had to point them at binance and they could get money out fairly directly to pay their bills etc.
and Haveno (testnet) & bisq