The cryptocurrency exchange Binance recently suspended the withdrawal of Monero (XMR), causing dissatisfaction among its clients. This decision was made a day before the official delisting of XMR, surprising many users, especially considering that Binance announced the cessation of support for these altcoins only on May 20, 2024. Some clients expressed their discontent, suggesting that the exchange could have avoided mass selling of XMR if all coins were kept in a hot wallet until the delisting moment. Instead, in their opinion, Binance preferred to force users to sell XMR rather than withdraw them, which was perceived as manipulation.
Prior to the delisting of Monero, there was a significant sell-off of XMR, resulting in the coin reaching an all-time low against Bitcoin on the cryptocurrency exchange Kraken. However, Monero continues to hold within a certain price range, emphasizing its resilience. However, there is concern that other cryptocurrency platforms may follow Binance's example and also exclude Monero from their listings.
Earlier this year, there were reports that the Finnish National Bureau of Investigation managed to trace anonymous transactions of Monero and identify the ultimate recipients of the coins, adding an additional level of discussion about the future of anonymous cryptocurrencies.
