Binance Faces Community Outrage Over Delisting Privacy Coin Monero Amid Regulatory Pressures

Leading cryptocurrency exchange Binance is facing backlash from the cryptocurrency community after moving to delist the privacy-centric cryptocurrency Monero ($XMR), leading to a significant price and trading volume drop for the token. The move came amid concerns that Monero's use of stealth addresses does not align with Binance's requirement for transactions from publicly transparent addresses.

Timeline of Monero

Binance, the largest cryptocurrency exchange, has recently announced that it will start monitoring ten new projects, including privacy blockchains like Monero, Firo, Mobilecoin, and Zcash. Binance reported that these projects might be delisted in the future, failing to meet the criteria required by the exchange to keep being traded on its platform.

Today, Binance revealed its plan to expand the Monitoring Tag coverage to encompass 10 additional tokens starting from Jan. 4. Notably, Monero (XMR) and Zcash (ZEC) are now included in this extension.

Just days after crypto exchange OKX announced the delisting of top privacy coins Monero (XMR), Zcash (ZEC) and Horizen (ZEN), top exchange Binance has added these coins to a list of tokens at risk of being delisted.

Story Highlights The live price of Monero is . Monero price may reach a high of $213.541 by the end of 2023. The XMR price with a potential surge could go as high as $962.141 by the end of 2030. The crypto verse is home to a myriad of projects employing P2P (peer-to-peer) technology.

Monero currently occupies the foremost position among privacy cryptocurrencies in terms of market capitalization. The following Learning and Insights explainer briefly delves into the origins and development of Monero (XMR), emphasizing its distinctive features, such as anonymous transactions and untraceable payments, that set it apart from its peers.

In the last half-year, there has been a remarkable surge in the value of crypto assets such as bitcoin and ethereum. BTC has skyrocketed by 77%, while ETH has experienced an impressive 44% leap.

An altcoin with a long and storied history, Monero is currently running to the upside in a way it never has before. After closing higher for twelve consecutive days – a new record for the privacy-focused altcoin – Monero looks poised to once again make history with a thirteenth straight higher close.

Monero (XMR) is making a very impressive attempt to lead a new bullish front in the privacy coin ecosystem as it is changing hands at a price of $152.50, up by 3.33% over the past 24 hours. Monero is capitalizing on the recent growth in the market as its positive momentum has been solidified as it has accrued a total of 12.99% over the past week.

Monero Price Prediction 2023-2032 This Monero Price Prediction will cover details about Monero, applications, price history, and factors affecting the native currency. There are plenty of things to consider before moving on to the Monero (XMR) price prediction.

The Monero price analysis shows that the XMR price action has found support at the $135.00 mark. Currently, the price action has risen to the $140.00 level and seems to be recovering further.