XMR, ZEC, ZEN update: Is Binance about to delist these privacy coins?

XMR, ZEC, ZEN update: Is Binance about to delist these privacy coins?
фото показано с : invezz.com

2024-1-4 12:06

Just days after crypto exchange OKX announced the delisting of top privacy coins Monero (XMR), Zcash (ZEC) and Horizen (ZEN), top exchange Binance has added these coins to a list of tokens at risk of being delisted.

On January 4, Binance released an update to its Monitoring Tag list adding XMR, ZEC and ZEN among other tokens. The exchange however removed GMX (GMX) and Sushi (SUSHI) from the Seed Tag list.

Is Binance set to delist Monero, Zcash, Horizen?

Binance, like Coinbase, have traditionally been associated with a more positive effect on tokens when they announce listing. The prices of most projects have gone on to explode pre-listing, with visibility and greater liquidity among the key factors.

That was the case with Binance’s recent listing of several tokens, including Bonk, Celestia and ORDI.

However, a delisting announcement has often coincided with a dip in prices amid loss of liquidity. While adding a coin to the Monitoring Tag list does not mean automatic delisting, the move means the exchange is closely monitoring these tokens based on internal risk evaluation and other criteria.

“Keep in mind that tokens with the Monitoring Tag are at risk of no longer meeting our listing criteria and being delisted from the platform,” Binance notes.

Regulatory compliance, which incidentally has increased since Binance’s $4.3 billion settlement with US authorities and the ongoing tussle with the SEC, is another factor likely to play into a decision to delist the privacy coins.

In December 2023, Binance moved to delist TORN, the governance token of crypto mixing platform Tornado Cash. The price of TORN fell sharply after the news. While the prices of XMR, ZEC and ZEN are generally down as of writing, with broader market dipping following Bitcoin’s flash crash on January 3.

Market observers have noted that Binance’s settlement with the US Department of Justice, Commodity Futures Trading Commission (CFTC) andFinancial Crimes Enforcement Network (FinCEN) could see the exchange “clean” house further with token delistings.

In the latest announcement, other tokens available with a Monitoring Tag include Aragon (ANT), Firo (FIRO), Keep3rV1 (KP3R), Mdex (MDX), MobileCoin (MOB), Reef (REEF), and Vai (VAI).

The post XMR, ZEC, ZEN update: Is Binance about to delist these privacy coins? appeared first on Invezz

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Источник: invezz.com

coins xmr → Результатов: 111


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