Binance To Delist These 4 Crypto Raising Price Dip Concerns

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As a seasoned crypto investor with over a decade of experience navigating the volatile and ever-evolving digital asset market, I’ve learned to brace myself for such news that can significantly impact portfolio values overnight. The recent announcement by Binance to delist four cryptocurrencies – IDRT, KP3R, OOKI, and UNFI – is no exception.

On Wednesday, Binance, a prominent cryptocurrency exchange, disclosed its intention to remove four digital currencies from its platform, causing a stir among investors worldwide. The exchange specifically mentioned the Rupiah Token, Keep3rV1, Ooki Protocol, and Unifi Protocol DAO as the ones to be delisted in the near future. As soon as this news was released, the prices of IDRT, KP3R, OOKI, and UNFI dropped by 0.5% to 46%.

Cryptocurrency fans are curious if the prices of these digital coins might drop even more, given that a major exchange has stopped providing its services.

Binance To Delist IDRT, KP3R, OOKI, and UNFI Raising Market Concerns

As per a Binance announcement dated October 23rd, the major cryptocurrency exchange plans to remove IDRT, KP3R, OOKI, and UNFI from its platform on November 6th. The specific trading pairs that will be affected are: KP3R/USDT, OOKI/USDT, UNFI/BTC, UNFI/TRY, UNFI/USDT, and USDT/IDRT.

Importantly, the platform will stop trading and cancel all open trades for each pair involving the specified tokens by the stated date. After the delisting procedure is complete, the value of these tokens will no longer be accessible in your digital wallets.

In addition, it was made clear that as of November 7, no user’s account will receive deposits of these tokens. Furthermore, withdrawals for these tokens will no longer be possible from February 6, 2025 (starting at 3:00 UTC). However, starting February 7, 2026, the exchange may convert these tokens into stablecoins as part of a smooth delisting process. It’s important to note that this change is not finalized yet, and the digital asset trading platform will inform its users if this decision is made.

At the same time, Binance Simple Earn is planning to remove four tokens after November 11 this year, as stated in their announcement. Additionally, the UNFIUSDT USD-Margined perpetual contract will terminate on October 30 at 09:00 UTC. Furthermore, Binance has announced that they will no longer support KP3R, OOKI, and UNFI Cross and Isolated Margin pairs, among other changes. In summary, this announcement has caused a sense of bearishness for these four digital assets throughout the broader cryptocurrency industry.

How Are The Crypto Performing?

Currently, the price of KP3R has plummeted by 41%, standing at $31.47 per unit. Its lowest and highest points during the day were $32.53 and $54.08 respectively.

At the moment of reporting, I find myself analyzing the IDRT price, which stands at approximately $0.00006377 – a decline of nearly 0.5%. Throughout the last 24 hours, its lowest and highest values were recorded as $0.00006374 and $0.0000641 respectively.

Today, UNFI’s price plummeted by 42% during trading hours and is currently at $1.57. Earlier today, its lowest point was $1.60 and its highest was $2.78. Similarly, over the past day, OOKI’s price has dropped by 46%, now trading at $0.0007154. Its intraday low and high were $0.0007115 and $0.001373, respectively. It is worth noting that the recent fall in these cryptocurrencies appears to be largely influenced by a bearish market sentiment arising from Binance’s decision to discontinue its support.

Additionally, it’s worth noting that the cryptocurrency exchange has recently added Simon’s Cat to its listings, which has led to an increase in the value of CAT tokens. This event highlights the significant impact this digital asset company has on the overall sector.

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2024-10-23 13:36