Monero faces short-term selling pressure despite strong on-chain activity

TL;DR:

Monero (XMR) faces short-term selling pressure below key moving averages. On-chain activity remains strong despite exchange delistings.

Key Points:

Background:

Cryptocurrency exchange listings refer to when a digital asset becomes available for trading on a centralized or decentralized exchange platform. Major exchange listings, especially on platforms like Binance or Coinbase, are significant events that can dramatically increase a token's visibility and trading volume.

Why It Matters:

Exchange listings provide liquidity and accessibility for cryptocurrency projects, often leading to increased trading volume and price movements. Being listed on reputable exchanges validates a project's legitimacy and opens access to millions of potential traders and investors.