XMR Hits 10-Month Low Amid 2020 Prediction: Major Exchanges Delisting & Core Members Stepping Down

  • Monero lead maintainer Riccardo Spagni aka fluffypony steps down
  • Blockchain capital predicts the privacy coin to be delisted from major exchanges

After serving the Monero project for more than five years, the lead maintainer Riccardo Spagni, known as fluffypony is stepping down from its position, announced the team on Monday.

Spagni, one of the four individuals in the group called Magica Crypto Friends hosts an annual conference called the Magic Crypto Conference.

Snipa, a long-time contributor of the project will take over his place but fluffypony will continue to work in the capacity of a backup maintainer to fill in the position when the situation calls for.

Spagni explained that this hasn’t been a surprise development rather has been in talks for more than two years now. Looking ahead, he will continue to focus on the broader Monero ecosystem, the privacy ecosystem especially Tari, an open-source centralized project that is built as a sidechain to the Monero blockchain.

The fifteenth largest cryptocurrency is down 25% in the past month and is currently trading at a level last seen in early February.

Trading at $45.84, XMR is still down 92% from its all-time high of $593.

XMR price down 3% YTD, Source: TradingView

Meanwhile, anti-money laundering standards are pushing crypto exchanges to delist privacy-focused cryptocurrency.

Estonia-based BitBay announced the delisting last month and a month before that Korean exchange OKEx said that it would no longer allow the digital currency to trade on its platform.

This isn’t expected to stop next year as well rather can be even worse predicts Blockchain capital. The company in its 12 bold 2020 predictions stated, “privacy coins are delisted from major exchanges,” as shown in a tweet,

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AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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