As a seasoned researcher and investor who has navigated through numerous market cycles and witnessed the ebb and flow of digital assets, I find myself reflecting on Binance’s latest decision to delist several tokens. The removal of Unifi Protocol DAO (UNFI), Ooki Protocol (OOKI), Keep3rV1 (KP3R), and Rupiah Token (IDRT) is indeed a significant move that highlights the dynamic nature of this rapidly evolving marketplace.
In simple terms, it’s announced that Binance, the biggest platform for trading cryptocurrencies by volume, intends to remove several digital coins from its listings within a few weeks.
Today’s announcement from the exchange disclosed that the following tokens will be deleted: Unifi Protocol DAO (UNFI), Ooki Protocol (OOKI), Keep3rV1 (KP3R), and Rupiah Token (IDRT).
This action aligns with our regular assessment of assets, which is carried out to guarantee that all traded tokens adhere to our stringent quality requirements.
On November 6th, at 3:00 UTC, the de-listing process will occur. This means that all trades involving these tokens such as UNFI/BTC, OOKI/USDT, KP3R/USDT and others, will no longer be available for trading at that time.
Binance stated that they make decisions considering elements like the pace of a project’s development, the reliability of its network infrastructure, and compliance with regulatory standards. They emphasized that such measures aim to safeguard users and maintain a thriving cryptocurrency marketplace.
People who possess these tokens are urged to act before crucial cut-off dates approach. The closing of trades in the spot market is scheduled for November 6th, however, Binance has highlighted several significant dates prior to that regarding margin trading, futures agreements, and additional facilities.
For instance, isolated margin borrowings for these tokens will be suspended on Oct. 25, with further closures of positions set for Oct. 31. Users are advised to settle their positions and transfer any assets to avoid losses.
Following the removal, token deposits will stop being credited as of November 7. Nevertheless, Binance will continue to facilitate withdrawals until February 6, 2025. The platform has also hinted at the possibility of exchanging the de-listed tokens for stablecoins, but a confirmation on this is not yet certain.
The removal of an asset from Binance follows a pattern in the crypto market, where assets once listed on Binance often experience price fluctuations. Previous delistings by Binance have resulted in significant drops for certain tokens like TrueUSD and TORN from Tornado Cash, as well as Monero. Yet, it’s worth noting that some tokens have shown a rise even after being delisted by Binance, such as Reef Finance.
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2024-10-23 13:20