Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ALTCOIN NEWS»XMR 30% Crash: Is Binance Delisting the Only Reason?
ALTCOIN NEWS

XMR 30% Crash: Is Binance Delisting the Only Reason?

By Crypto FlexsFebruary 7, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
XMR 30% Crash: Is Binance Delisting the Only Reason?
Share
Facebook Twitter LinkedIn Pinterest Email

  • Bearish sentiment towards XMR surged after Binance delisted the token.
  • Most indicators and market indicators were bearish for the token.

Binance (BNB) recently announced that it would delist several cryptocurrencies from its platform, including: Monero (XMR).

Since Binance is the world’s largest exchange, delisting almost always hurts the value of the token, and this is the same for XMR.

#Binance The following tokens will be delisted on February 20, 2024:

🔸 $ANT
🔸 $multi
🔸 $OR
🔸 $XMR

More details here ⬇️https://t.co/3YRKqYrb7T

— Binance (@binance) February 6, 2024

Monero is bleeding

Immediately after the announcement, the price of XMR began to fall. In fact, the token price has fallen 27% in the last 24 hours alone.According to CoinMarketCap.

At the time of this writing, XMR was trading at $120.40, with a market capitalization of over $2.2 billion. Trading volume also surged by more than 500%, meaning more investors are selling tokens.

News of the delisting spread like fire, making XMR one of the hot topics of discussion in the cryptocurrency space. This has been evident in the massive surge in social scale.

The price drop created bearish sentiment towards the token, causing its weighting sentiment to plummet on February 6th.

Source: Santiment

The situation in the derivatives sector also appears to be concerning for XMR. For example, the value of a token has fallen, but open interest has skyrocketed.

A rise in this indicator usually means that the ongoing trend is likely to continue.

The Binance funding rate also turned red, meaning derivatives investors are also selling. XMR. The reason may be that futures investors fear further price declines in the coming days.

Source: Santiment

What can you expect from Monero?

AMBCrypto also looked at data from Hyblock Capital to find out what XMR’s liquidation levels suggest. Analysis shows that XMR has a strong support area near $98.7.

Plunging below that could be disastrous.

Conversely, the token faces resistance near $122. Things could get better if XMR turns that resistance into new support.

Source: Hiblock Capital

To get a better understanding of which direction the token was headed, AMBCrypto checked its daily charts. According to our analysis token of The Money Flow Index (MFI) recorded a sharp decline at press time.

MACD also shows a huge bearish edge in the market, indicating that the price may fall further.

Nevertheless, the Relative Strength Index (RSI) rebounded from the oversold zone and headed toward neutral territory. This suggested that XMR’s downward price trend may soon come to an end.

Source: TradingView


Realistic or not, the following is XMR market cap based on BTC


One piece of good news is that Binance’s delisting incident did not affect the blockchain mining sector.

In particular, AMBCrypto’s view on Coinwarz is chart Monero’s hash rate graph has remained fairly stable over the past week, it said. At press time, XMR’s hashrate was 2.29GH/s.

Previous: Direct ownership of Bitcoin declines sharply – ETF effect?

Next: Is interest in the Avalanche ecosystem waning?

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SEI tokens have soared more than 100% in June -the highest catalyst explained.

June 26, 2025

$ 438m XRP Transfer Sparks Panic- Ripple?

June 19, 2025

Solana Price Eyes 103% Rally $ 300: Here is the reason.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Join Earn Mining To Mine Easily And Earn $7752 A Day

June 26, 2025

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Weed® Announces Partnership With Khalifa Kush; Launches Global Commercialization

June 26, 2025

GBM Launches Auction Festival With The Sandbox, Aavegotchi, Unstoppable Domains, And More

June 26, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025
Most Popular

Bitfinex lists WIF, the native token of DogWIFCoin

February 6, 2024

Taiwanese ACE Exchange founder among seven people indicted in $10.7 million fraud case

April 10, 2024

Alleged dog owner of dogwifhat memecoin sells iconic photo as NFT

March 17, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.