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Home»ALTCOIN NEWS»Kraken cryptocurrency exchange plans to delist Monero in two European countries within two months
ALTCOIN NEWS

Kraken cryptocurrency exchange plans to delist Monero in two European countries within two months

By Crypto FlexsApril 11, 20242 Mins Read
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Kraken cryptocurrency exchange plans to delist Monero in two European countries within two months
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One of the world’s largest centralized cryptocurrency exchange platforms plans to delist popular privacy-focused altcoins in two European countries in the coming months.

In a new article, cryptocurrency exchange Kraken said it will delist Monero (XMR), an anonymity-focused blockchain launched in Ireland and Belgium in 2014, starting in June.

According to Kraken, all XMR remaining on cryptocurrency exchanges after June 10 will automatically be converted to Bitcoin (BTC), the leading cryptocurrency asset by market capitalization.

“We plan to delist Monero (XMR) from the Kraken platform on June 10, 2024 for customers in Ireland and Belgium. Trading and deposits for XMR will cease from May 10, 2024.

All margin positions must be closed by May 10, 2024, otherwise the positions will be automatically closed. We will stop withdrawing XMR from Kraken on June 10, 2024. At this time, any remaining XMR balance will be automatically converted to BTC.”

Last February, XMR itself was delisted from Binance, the world’s largest cryptocurrency exchange platform by trading volume, and has since suffered a 32% plunge.

At the time, Binance began delisting digital assets, including decentralized governance network Aragon (ANT), artificial intelligence-centered blockchain Biot (VAI), and enterprise blockchain platform Multichain (MULTI). .

Due to the delisting earlier this year, XMR plummeted to $108.80. However, the 57th-ranked digital asset has since recovered and is currently trading at $134 at the time of this writing, up 1.3% in the last 24 hours.

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