As a seasoned researcher and investor with years of experience under my belt, I find myself constantly monitoring the crypto market for such announcements as Binance’s recent decision to delist five tokens. The routine review process by exchanges like Binance is a necessary step to maintain quality trading conditions, but it can have a significant impact on less established projects.
Today, it was announced that Binance plans to remove trading for five tokens – Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX (OAX), and Ren (REN) – from all available pairs.
According to the announcement, the delisting will take effect on December 10, 2024, at 03:00 UTC.
Binance announced that their decision to delist certain trading pairs is a regular step in their review process, which involves assessing assets to guarantee they uphold the necessary standards for optimal trading conditions. The affected trading pairs are GFT/USDT, IRIS/USDT, KEY/USDT, OAX/BTC, and REN/USDT. This evaluation ensures that only high-quality assets are available for trading on their platform.
By failing to act before February 2025, any open orders for these tokens on Binance will be automatically terminated. Additionally, deposits and withdrawals for these tokens will no longer be possible after this date. To prevent potential issues, Binance recommends users either close their positions or transfer their tokens prior to the deadline.
After the announcement, there was a significant decline in the prices of five digital tokens as traders quickly decided to offload their investments. Specifically, GFT declined by 32%, IRIS dropped by 36%, SelfKey (KEY) saw a decrease of 30%, OAX (OAX) fell by 31%, and Ren (REN) experienced a 32% drop, as reported by CoinGecko.
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2024-11-26 19:32