Leading cryptocurrency exchange Binance announced today that it will delist four altcoin projects: Aragon (ANT), Multichain (MULTI), Vai (VAI) and Monero (XMR). The delisting will take effect on February 20, 2024, at 06:00 Turkish time.
Binance announced delisting for those four altcoins
Binance regularly reviews the crypto assets it lists to ensure they meet its high standards. The exchange considers various factors during these reviews, such as the commitment of the development team, the level of development activity, trading volume and liquidity, network stability, and contribution to a healthy crypto ecosystem. Binance said in a statement that these four assets “no longer meet the listing criteria.” He also explained that removing them from the list “best protects all users.” However, the exchange did not specify which criteria the delisted assets did not meet.
The news comes amid increasing regulatory scrutiny of privacy coins such as Monero, which allow anonymous transactions. In recent months, several other major exchanges have also delisted privacy coins. This news is likely to impact investors holding these delisted assets. It is important that they are aware of the upcoming delisting date and make the necessary arrangements for their assets. Already, coin delist news is likely to lead investors to losses. Because in parallel with the moment of announcement, the price of the delist coins in question took a hit. We will examine this issue below.
Prices were seriously affected
With this development, the prices of delist altcoin projects took a big blow. VAIOT (VAI) fell from $0.124 to $0.117, a 5 percent decline. Multichain (MULTI) fell from $2.15 to $1.7, a decline of 12 percent. On the other hand, Aragon (ANT) decreased from $5.9 to $5.7. Finally, the famous Monero, one of the well-established privacy coins, fell by 12 percent. It decreased from $166 to $146.
Binance also adds new pairs
Despite the delistings, Binance is also expanding its trading offerings. The exchange will list two new trading pairs on February 7: JUP/USDC and PENDLE/FDUSD. It will also activate Trading Bots services for several new pairs on the same date. In conclusion, the important points are as follows:
- Binance is delisting ANT, MULTI, VAI and XMR on February 20, 2024.
- Reason for delisting: Assets no longer meet Binance’s listing criteria.
- Binance added JUP/USDC and PENDLE/FDUSD trading pairs on February 7, 2024.
- Binance is enabling Trading Bots services for several new pairs on February 7, 2024.
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