Monero Price Plummets by 15% Following Binance Delisting Announcement

Binance cryptocurrency exchange has announced that it will delist Aragon (ANT), Multichain (MULTI), Vai (VAI), and Monero (XMR) from its trading list starting from February 20 at 3:00 UTC. As a result of this announcement, the price of Monero plummeted by over 15% within just three hours.

According to CoinGecko, Multichain experienced a 23% drop, while the price of Aragon reverted to its initial levels with a 0.2% increase. Vai prices decreased by 0.4%.

From February 20 at 3:00 UTC, users will no longer be able to deposit or withdraw the aforementioned assets on the Binance platform. According to the warning, these tokens may be converted to stablecoins, although this is not guaranteed. The list of trading pairs affected by the delisting includes XMR/BNB, XMR/BTC, XMR/ETH, XMR/USDT, ANT/BTC, ANT/USDT, MULTI/USDT, and USDT/VAI.

Additionally, the availability of certain programs on Binance, such as Binance Simple Earn, Binance Auto-Invest, Binance Loans, VIP Loan, Binance Gift Card, Binance Pay, as well as the trading bot service, will change.

Starting from February 16 at 6:00 UTC, Monero, Aragon, and Multichain will no longer be considered when calculating cross and isolated margin on Binance.

On February 15 at 9:00 UTC, Binance Futures will close all positions and conduct an automatic settlement for the perpetual Coin-M contract XMRUSD. The platform has also warned of possible changes in significant terms regarding this instrument.

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

The decision to delist Monero, Aragon, Multichain, and Vai was made following a routine check for compliance with high standards. The exchange claims to conduct a more in-depth analysis when an asset no longer meets the requirements and makes a decision to delist to protect users.

Various factors are taken into account in the evaluation, such as the team's commitment to the project, developer activity, trading volume, liquidity, network and smart contract stability, level of public communication, and other aspects.

It is worth noting that earlier this year, Binance classified Zcash and Monero as high-risk crypto assets.