🚨 Monero Delisting Sparks Fears of Binance's Decline! 💥

Monero, the prominent privacy coin, faced a steep decline as Binance dropped a bombshell, announcing its removal from the platform alongside other tokens like Aragon, Multichain, and Vai.

In a move set for February 20, 2024, Binance declared the delisting of Monero and its affiliated pairs, including Bitcoin, Ether, Tether, and BNB. The exchange clarified that all trading orders would be automatically scrapped post the cessation of transactions for each pair, with support for these tokens ceasing after May 20, 2024.

While Binance hinted at the possibility of converting delisted XMR into stablecoins after May 21, it cautioned that this wasn't guaranteed, adding an air of uncertainty to the situation.

The decision, rooted in fostering a healthy crypto ecosystem and thwarting unethical practices, sent shockwaves through the Monero community, triggering a rapid price plunge. TradingView data recorded a staggering 19% drop to $136 on Binance shortly after the announcement.

Despite a slight recovery, with Monero bouncing back to $140.30, the delisting debacle plunged its value to its lowest since mid-September 2023, raising concerns among investors and commentators alike.

Stay tuned for further developments on this unfolding saga! 📉

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