Binance announced in a blog post on Tuesday morning that it will delist privacy coin Monero (XMR) along with several other assets on February 20th.
According to CoinGecko data, XMR price fell 17% on the news and is currently trading at $138.00. With a market capitalization of $2.6 billion, it is by far the largest asset to be delisted.
Other coins include Aragon (ANT), Multichain (MULTI), and Vai (VAI).
Aragon is a no-code DAO creation and management platform that allows users to distribute tokens, authorize wallets for voting, and set governance rules. Vai is the native token of Venus Protocol, a decentralized stablecoin issuer.
Multichain, which helps users bridge assets and NFTs across multiple blockchains, made headlines last year when $126 million worth of funds suddenly disappeared. Shortly thereafter, a blockchain analysis firm suggested that this may have been an inside job. A week later, Chinese police confirmed they had detained the team's CEO, and the rest of the team said they could not access protocols because their executives were missing.
Given the above, there appears to be no single theme that unites all soon-to-be-delisted tokens. In its announcement, Binance cited several reasons for flagging the token for delisting, including trading volume and liquidity, stability and security, public communications, and evidence of unethical or fraudulent activity.
“If a coin or token no longer meets this standard, or if the industry changes, we may conduct a more detailed review and potentially delist it,” Binance said in a blog post. . “We believe this is the best way to protect all users.”
In early January, Binance announced that it was reviewing several assets, including Monero, Zcash, and Horizen.
The world's largest cryptocurrency exchange by daily trading volume has warned that any deposits made after its February 20 delisting will not be credited to user accounts. However, the company said that token withdrawals will be supported until May 20th.
