Monero (XMR) made its way back to the headlines after Binance announced that it would delist the privacy token from Feb. 20. Soon, fear gripped the market and the token tumbled down, losing 30% of its value in a 24-hour window.
XMR’s plunge to a 20-month low, however, marks the beginning of a downturn. As a series of crashes await the token, investors turn to high-potent presale tokens like Bitcoin Minetrix to offset the risk.
What you'll learn 👉
Privacy Tokens Face Uncertainty
In a recent blog post, Binance revealed that it would delist four tokens that no longer meet its standards. Along with Monero, the tokens that will be soon thrown out include Aragon (ANT), Multichain (MULTI), and Vai (VAI).
“At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all our users,” the blog post said.
A few factors that drive Binance’s decision to delist tokens are the commitment of the team to a project, the level and quality of development activity, and the contribution to a healthy and sustainable crypto ecosystem, to name just three.
But there is a more obvious reason behind Monero’s delisting.
Privacy coins protect anonymity by obscuring the flow of money across their networks. The unique feature makes it difficult to track their transactions, which, in turn, leads to their notoriety in the eyes of regulators and law enforcement.
In 2023, OKX announced the delisting of XMR, along with similar tokens like dash (DASH) and ZCash (ZCH). But the recent blow from Binance is likely to have a far-reaching impact on the token.
How Steep Will XMR Crash?
In the last 24 hours, Monero (XMR) fell to $116. Despite occasional surges, a downward trajectory is emerging. The trading volume rose 482.78% during the period as investors rushed to sell off their holdings before further plunges.
Monero XMR 1-day price action, CoinMarketCap
The growing regulatory pressure on crypto exchanges like Binance puts the future of privacy coins at risk. They can be a breeding ground for illegal activities due to their anonymous nature.
The delisting of XMR on Binance marks a serious setback for the project. It is expected to pave the way for more delisting in the coming days. But more importantly, it is a punch to Monero’s credibility from an investor’s perspective.
Investors Turn to Presale Tokens for Quick Reset
XMR investors are seeking refuge in presale tokens amid the impending crash to offset risk. Bitcoin Minetrix is one of the top trending presale tokens of this week.
While XMR collapsed 30%, Bitcoin Minetrix (BTCMTX) has been climbing the list of hot tokens over the last few hours. The stake-to-mine token just broke past the $10M milestone in its viral presale.
FOMO is growing to new heights as $BTCMTX prepares for its debut exchange launch.
The project provides a simplified approach to Bitcoin mining for retail participants, effectively breaking the technical and financial barriers to the mining industry.
The Bitcoin Minetrix dashboard allows users to stake their $BTCMTX tokens in exchange for non-transferable mining credits. Upon redemption, these credits earn BTC mining rewards for participants.
The anticipation of a substantial surge upon its debut exchange listing fuels the traffic to the presale. Although high-cap assets have a stronger reputation, their short-term returns pale in comparison to the potential of emerging assets.
Early investors stand to gain significant returns from the promising trajectory of low-cap tokens like BTCMTX. That explains why Monero investors are moving to $BTCMTX as the chaos unfolds.
The market relevance and presale activity of $BTCMTX suggest a potential increase of 800% to 1000% within the initial three months following its exchange listing. But the price action could be more turbocharged if it coincides with the broader market bull run.
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In the presale phase, users can grab $BTCMTX tokens for just $0.0133 from the official website.
AI GambleFi token Meme Kombat ($MK) is another hot presale token of the season.
The meme coin just crossed the $8 million milestone. Meme Kombat pumps the social media rivalry among meme coin communities to its AI virtual battle arena.
Here, popular meme coins like DOGE, SHIB, and PEPE battle it out for victory. Users will bet on the outcomes of these battles by staking $MK tokens. The prize pool is divided among users who make the right predictions, depending upon their stake.
Meme Kombat’s creative recipe for speculative action gives it more exposure to volatility than utility tokens like $BTCMTX. The much-awaited launch of Meme Kombat Season 1 will kick off the second round of price action for the meme coin after its initial launch.
The official Meme Kombat website hosts the presale of $MK tokens for public investors now.
Both Bitcoin Minetrix and Meme Kombat support staking in the presale stages.
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