Privacy coin Monero (XMR) has shot up again after experiencing a plunge following news that crypto exchange Binance would delist the controversial coin.

XMR is now priced at $130.54, according to CoinGecko, up more than 23% in the past day.

It hasn’t erased its post-Binance losses, however, and over a seven-day period is still down 21%. Zooming out further, and XMR is hurting bad over the month, having shaved off nearly 15% of its value in 30 days.

The world’s biggest crypto exchange Binance announced on Tuesday that it would delist the coin, which allows users to make anonymous transactions.

Binance said that the asset no longer met “high level of standard we expect.” It added that it delists tokens when trading volume and liquidity are low, or when there is evidence of unethical or fraudulent conduct.

The exchange did not specify the specific reason for delisting XMR.

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Author: Mathew Di Salvo

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