Monero’s largest P2P trading platform shuts down

2024-5-8 12:18

LocalMonero is a peer-to-peer (P2P) trading platform for privacy-focused coin Monero (XMR). The platform is winding down, with the website set to shutter on November 7.

LocalMonero, the largest peer-to-peer (P2P) trading platform for Monero (XMR), is shutting down.

The P2P platform announced late Tuesday that it’s ending operations effective immediately, with new signups and ad postings disabled as of May 7.

Ahead of the complete website shutdown, LocalMonero will halt all trading activities, with this scheduled for May 14. The platform’s seven-year stint that saw it become the largest peer-to-peer trading platform for Monero officially comes to a close on November 7.

As it begins its six-month wind-down process, LocalMonero says the decision to shut shop comes amid a confluence of internal and external factors. However, the announcement on the platform’s website does not provide specific reasons for the move.

Meanwhile, all users are advised to withdraw their funds before the deadline of November 7. Not doing so could render the funds “abandoned or forfeited.”

LocalMonero shuts, but future of Monero “bright”!

Shutting down Monero’s largest P2P platform could see an impact in terms of the buying and selling of XMR, the top privacy-centric cryptocurrency. Despite this, the team at LocalMonero believes the ecosystem’s future is on course for further growth.

“LocalMonero has been around for most of Monero’s life. Fortunately, the Monero ecosystem has matured a lot over these years,” the announcement reads.

Part of the optimism is down to the potential for projects such as decentralised exchanges (DEXs) Haveno and Serai. Atomic swaps and Full-Chain Membership Proofs (FCMP) are the other key developments likely to bolster the Monero protocol.

Despite this outlook, Monero and other privacy coins have in recent months faced increased regulatory scrutiny and exchange delistings. 

A number of privacy-focused services, including Wasabi Wallet and Trezor CoinJoin have shuttered, while US authorities recently arrested the co-founders of privacy wallet Samourai Wallet.

The post Monero’s largest P2P trading platform shuts down appeared first on CoinJournal.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Sharpe Platform Token (SHP) на Currencies.ru

$ 0.0004599 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0004599 - H: $0.0004599
Капитализация $8.007k Rank 99999
Доступно / Всего 17.41m SHP

platform down monero p2p trading xmr largest

Источник: coinjournal.net

platform down → Результатов: 126


Фото:

Sapien Network building next-gen social networking ecosystem for DAOs powered by its NFT passport

Sapien Network is building a next-generation social networking platform for DAOs and community members to fully realize their potential. The project aims to build unique tools and solutions that will revolutionize content organization and communication while tackling scalability difficulties in communities as a decentralized community-driven social network.

2022-3-23 00:08


Фото:

Binance Restricts Personal Accounts of 281 Nigerian users

A growing number of reports on social media allege that Binance, the world’s biggest cryptocurrency exchange platform, is aggressively clamping down on the wallets of users in Africa. In some other examples, users allegedly got feedback stating that their accounts may have been a recipient of fraudulent coin payments currently being tracked down, hence the […]

2022-2-1 20:52


Фото:

CryptoPool’s Price Predictions Pools Enable Investors to Earn Regardless of Market Sentiment

In the vast sea of thousands of different crypto assets, tokens, and stablecoins, all claiming to be the next big thing, it can get difficult to zero down to quality crypto projects. Accordingly, a bull case can be made for a community-driven price prediction platform with pool incentives for accurate price prediction that helps investorsRead More

2022-1-18 17:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

XRM could dip below the January low of $413: Check forecast

Key takeaways Monero is down 4.5% in the last 24 hours and risks dropping below the January low. The coin has lost 42% of its value since hitting an all-time high price of $798 twelve days ago. XMR continues to decline as the market remains bearish XMR, the native coin of the Monero blockchain, is […] The post XRM could dip below the January low of $413: Check forecast appeared first on CoinJournal.

Monero price forecast: Is XMR heading towards $700?

Key takeaways Monero has hit a new all-time high of $596 after outperforming the other major cryptocurrencies. XMR is currently the 12th-largest cryptocurrency by market cap. XMR hits a new all-time high of $596 XMR, the native coin of the Monero blockchain, is the best performer among the top 20 cryptocurrencies by market cap.