One of the world's largest centralized crypto exchange platforms plans to delist popular privacy-focused altcoins from two European countries in the coming months.
In a new article, cryptocurrency exchange Kraken announced that Monero (XMR), an anonymity-focused blockchain launched in 2014, will be delisted in Ireland and Belgium starting in June.
According to Kraken, starting June 10th, all XMR remaining on cryptocurrency exchanges will be automatically converted to Bitcoin (BTC), the top crypto asset by market capitalization.
“For customers in Ireland and Belgium, we plan to delist Monero (XMR) from the Kraken platform on June 10, 2024. As of May 10, 2024, trading and deposits of XMR will cease. ”
All margin positions must be closed by May 10, 2024, or these positions will be automatically closed. We will stop withdrawing XMR at Kraken on June 10, 2024. At this point, your remaining XMR balance will be automatically converted to BTC. ”
In February, XMR itself was delisted from Binance, the world's largest cryptocurrency exchange platform by trading volume, and has since plummeted 32%.
At the time, Binance was in the midst of a delisting spree, with decentralized governance network Aragon (ANT), artificial intelligence-focused blockchain Viot (VAI), enterprise blockchain platform Multichain (MULTI), and even XMR among others. digital assets were expelled.
Following its delisting earlier this year, XMR plummeted to $108.80. However, the 57th-ranked digital asset has since recovered and is trading at $134 at the time of writing, up 1.3% in the past 24 hours.
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me twitterFacebook and Telegram
Surf the Daily Hoddle Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/Apex Infinity Games
