Monero use holds despite delistings as darknet markets shift to XMR

TRM Labs says Monero usage remains above pre-2022 levels as darknet markets shift toward XMR, while unusual node behavior may offer investigators network-level clues.

Monero activity has remained steady even as major cryptocurrency exchanges have pushed the privacy coin off their platforms, according to new research by TRM Labs.

Data shows transaction usage in 2024 and 2025 stayed above levels seen before 2022, suggesting demand did not fade even after many large trading platforms removed or restricted the token over traceability concerns, TRM Labs said in the research examining market trends and the network’s underlying infrastructure.

In 2024, major exchanges, including Binance and Kraken, moved to delist or phase out Monero (XMR) over compliance concerns. Pressure increased this year when Dubai’s financial regulator banned privacy coins like Monero and Zcash (ZEC) on licensed platforms in the Dubai International Financial Centre (DIFC).

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