TL;DR
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Binance announced that they will be delisting Monero.
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Since doing so, Monero’s price has plummeted over 20%.
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Most newcomers to crypto still go through centralized exchanges, and Binance (the world’s largest centralized exchange) is planning on stopping all trading of Monero? This will make it MUCH harder to find/trade.
Full Story
Oh boy, do we have some TEA for you.
Well…it’s actually just crypto news, but we’re going to deliver it as if it’s hot gossip (cause, it kind of is).
Here’s what happened:
Binance announced that they will be delisting Monero (omg.)
Which seems on brand right now, because:
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Monero has been put under the microscope by global investigators (It’s a privacy coin and lots of criminals seem to love using it).
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Plus, Binance has a whole new periodical due diligence program since CZ plead guilty to money laundering (old news).
So, it’s not all that surprising that Binance broke up with Monero…
But, here’s the thing:
Since doing so, Monero’s price has plummeted over 20%.
And although the short term effect is apparent, the long term effect could possibly remove Monero from popular circulation.
Think about it:
Most newcomers to crypto still go through centralized exchanges, and Binance (the world’s largest centralized exchange) is planning on stopping all trading of Monero? This will make it MUCH harder to find/trade.
And we’re not like huge Monero enthusiasts or anything, but…
There is something to be said for a token that supports financial privacy as a standard.
