Binance Will Delist XMR on 2024-February-20
Binance Will Delist XMR on 2024-February-20
**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).
Just a quick heads up what Javascript binance dot us loads.
Aaand binance dot com blocks Tor.
Lol fuck them
welp
have we hit the local bottom?
long term, this is good for xmr, when binance inevitably gets torpedoed </cope>
looking at the stats, binance is about 34% of the exchange volume - kucoin, mexc, kraken all added together don't make up for it.
don't think many xmr users will want to KYC for some minor exchange.
I would direct people to localmonero for p2p trades, and tradeogre for private exchange.
any other suggestions? is any atomic swap protocol functional yet?
https://serai.exchange will have its first testnet soon. It assume it could become THE place to trade XMR in the future.
This cannot come soon enough. Really wish we already had this going.
I think eth <> xmr swaps may be running and a few weeks ago someone said they did the first bch <> xmr atomic swap
This is the moment of truth for Monero. I hope it's going to be fine after all these price manipulations.
binance is not allowing withdraws?
edit
If I am correct, Binance entered into short contracts, sold their XMR reserves ~@170, then released the BIG NEWS and now buying XMR back ~@130. This is - of course - a scam. Because they knew in advance when they will release the news and guarantee the drop.
Anyways, these financial acrobatics are short lived, so don't worry.
/EDIT/
In the past four years -3.1 standard deviations (FTX debacle) was the lowest value of the daily probability distribution for XMR. This time it is -4 stds, an order of magnitude lower.
Heuristics reveal that the delisting in itself (which was expected) is not a sufficient explanation for the magnitude of the panic. Given the track record, analysis and parallels to past financial attacks, a short wave based on a shark mentality of many players is likely.
Do you have any proof whatsoever they shorted Monero?
This may be permanent, and I hope it is. 😆
This will hurt in the short term for a little bit, but in the long term, this is a very good thing
Edit: OH FUCK YES! i just saw the price and I'm going to pick some up right now.
Hi! I just want to learn why is it a good thing on the long run?
Brcause monero actually has a use as money and places like binance are centralized and have to bow to government goons. By de-listing it, it becomes stronger due to the decentralized nature of the community and ethos.
What shortwavesurfer already replied is great.
Adittionally, many have speculated for a long time that the centralized exchanges do not have the underlying Monero and that the liquidity and supply is synthetic, also known as "paper trading" or the equivalent of IOUs. This is how the traditional finance sector and stock markets operate. By selling the same underlying assets many many times over and creating synthetic or faked representations in traders account hoping all of them will never be called for redemption at the same time. Same goes for bank deposits. It's all fakery.
If this gets exposedori the practice stops, there will be true price discovery in the market and value cannot be manipulated by inflating or deflating the exchange prices artificially.
I'm painting the picture in broad strokes here. You can spend many hours researching the many ways these manipulations are done and their impacts on markets.
Just purchased much XMR 😀
edit: purchased some more....
This is big news for xmr offramping. Rough
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.
May want to hold off on buying, price continues to fall...
For a short run down on Short selling attacks (like this one) you might be interested in https://monero.town/comment/3264836 (doesn't link to the correct comment, is this a bug? anyway.)
This is ~ 4 standard deviations BTW. I'd wait for a W on the dayly before buying the dip.
Permanently Deleted
Nice try, but they're making things worse for themselves. Now is the time for good discounts 😄