Monero one of those "wish I bought more"s

7 thg 2

Yesterday Monero XMRUSD dipped over -30% on new that Binance was going to delist it and other multichain (privacy based) currencies.

When I first saw the drop of my watchlist I feared that some part of the Monero protocol had been broken and that its privacy focus had been circumvented. Once I informed myself of the "reason" for the drop I became more bullish on Monero. The fact that it was being delisted for being "too private" means the protocol is working as intended.

I suspect that the drop was due to users of the largest crypto trading platform being forced to sell their holdings or covert them into other currencies to get them off the Binance platform. This is likely one of those price events where once the market realizes there is no fundamental change to the asset price recovers quickly.

From a technical standpoint; XMRUSD Did not even hit the July 2022 critical low in this move.