5 Tokens Crash in Price As Binance Announces to Delists Them

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As a seasoned crypto investor who’s been through numerous market fluctuations and exchange decisions, today’s Binance delisting announcement left me with a familiar feeling – a mix of surprise, uncertainty, and a pinch of adrenaline. I remember when they delisted Bitcoin Cash back in 2018; it was a rollercoaster ride, but the market bounced back eventually.

Today, Binance made a decision to remove five cryptocurrencies – Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX (OAX), and Ren (REN) – from all available trading options.

According to the announcement, the delisting will take effect on December 10, 2024, at 03:00 UTC.

Binance announced that their decision is a regular assessment, where they examine assets to make sure they meet the requirements for optimal trading circumstances. The impacted trading combinations involve GFT/USDT, IRIS/USDT, KEY/USDT, OAX/BTC, and REN/USDT.

Binance has announced that any orders for these tokens not completed by a certain deadline will be automatically terminated. Furthermore, deposits for these tokens will no longer be accepted, and no withdrawals will be possible after February 2025. To prevent issues, Binance encourages users to either close their positions or transfer their tokens before the specified date.

After the announcement, there was a significant drop in the prices of five different tokens as traders hurriedly sold their investments. Specifically, Green Frog Token (GFT) decreased by 32%, IRIS plummeted by 36%, SelfKey Token (KEY) sank by 30%, OAX (OAX) fell by 31%, and Ren Token (REN) dropped 32%, as reported by CoinGecko.

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2024-11-26 20:04