One of the few anonymous cryptocurrencies, which is limited and offers privacy and anonymity, is soon to cease trading on BINANCE.

This news comes through an official announcement from the exchange, which explains it as a measure to protect users.

The explanation provided is vague and certainly undermines users’ trust in Binance’s transparency and reliability. Trading will be suspended from February 20, 2024.

The price, of course, has been shaken by this news. Additionally, as troubles never come alone, another blow to the price of Monero came with the suspension of withdrawals from exchange wallets to personal crypto wallets. This forced the market and owners of XMR tokens into a single option: selling.

On February 6, 2024, the price experienced a free fall of over 30%. However, by the end of the day, withdrawals of Monero to other XMR wallets were allowed, halting the free fall and recovering the price by about 20% on February 7, 2024.

What the price will be in the next ten days while trading is still allowed on the Binance crypto exchange remains to be seen. But, everyone should exercise caution and not expose themselves to excessive risk.