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Binance announced that it will delist several coins, including Monero (XMR), known as a privacy coin. After this devastating news, Monero coin, which had been on an upward trend for some time, experienced a serious decline.
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The tensions between the US and Iran had worked in favor of the Monero (XMR) coin and the coin had increased in value. In other words, XMR was benefiting from the bad situations happening globally.
However, the unexpected delisting news caused the Monero coin to crash.
After the delisting news, the price of the popular coin Monero (XMR) fell from $166 to $138.
According to the chart, if Monero (XMR) cannot hold on to the support levels and close above them, the decline seems to continue for a while.
In addition, exchanges have been taking a negative stance against privacy-focused projects for years.
Additionally, the delisting news for this pioneering privacy project confirms that Binance is also against them.
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