After seven years, LocalMonero has announced that it is shutting down due to a mix of internal and external factors. The shutdown process will take six months, and new signups have already been halted.

Trading Monero will no longer be possible after May 14, and the website will be completely shut down in November.This closure follows a trend of delisting privacy-focused coins like Monero from major exchanges like Kraken, OKX and Binance.

Despite the closure of LocalMonero, the Monero ecosystem is expected to continue growing. New Monero-focused DEXs will be launched, and privacy updates will continue.

The future of Monero is bright, and this closure won't hinder its progress.This announcement comes a year after a similar peer-to-peer Bitcoin trading service, LocalBitcoins, decided to shut down after ten years of operation.