08 May

The team behind peer-to-peer trading platforms LocalMonero and AgoraDesk recently announced the closure of both platforms. Citing a combination of internal and external factors, they declared that trading of the privacy-focused Monero token would cease on May 14. New signups and Monero advertisements have also been disabled.

AgoraDesk communicated the decision via X on May 8, stating that the winding-down process would span six months, culminating on November 7, 2024. Users are urged to withdraw their funds before the closure date, with unclaimed funds considered abandoned.

The team expressed gratitude for users' support over the past seven years and expressed confidence in Monero's future. They highlighted the growth of the Monero ecosystem and anticipated developments, such as the launch of Haveno and other decentralized exchanges (DEXs).

The closure has sparked concerns within the community regarding the reliability of Monero, especially following its delisting from Binance, which led to a notable depreciation in its value.

Despite this, Monero (XMR) is currently trading at $129.13, showing a slight decline of 1.15% in the last 24 hours. However, it has experienced a significant surge of 6% over the past week, despite a 2.6% monthly dip.

May 2024, Cryptoniteuae

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