TRM Labs: Despite being delisted from major exchanges, Monero network activity is on the rise

February 17th — TRM Labs’ latest research shows Monero activity has held steady despite major cryptocurrency exchanges delisting privacy-focused coins. Key takeaways: - Transaction volumes in 2024 and 2025 remain above pre-2022 levels, even as large exchanges (including Binance and Kraken) removed or restricted the token over traceability concerns. - In 2024, mainstream platforms delisted Monero for compliance; this year, Dubai’s financial regulator banned licensed firms in its international center from listing privacy coins like Monero and Zcash, ramping up pressure. - Bitcoin still leads as the top choice for real-world ransom payments: Ransomware operators often demand Monero (sometimes with discounts), but victims still prefer Bitcoin. - Darknet markets are shifting in the opposite direction: 48% of new markets launched in 2025 only support Monero — a “significant jump” from earlier years.