As a seasoned crypto investor, I’ve seen my fair share of market fluctuations and exchange announcements. Binance’s recent decision to delist Waves (WAVES), OMG Network (OMG), NEM (XEM), and Wrapped NXM (WNXM) came as a surprise and left many investors scrambling to adjust their portfolios.
As a crypto investor, I’ve noticed that Binance, the largest cryptocurrency exchange in the world, made an announcement on Monday about delisting and ceasing trading for four specific cryptocurrencies: Waves (WAVES), OMG Network (OMG), NEM (XEM), and Wrapped NXM (WNXM). This news has had a significant impact on their prices, causing them to plummet.
Binance Announces Delisting of WAVES, OMG, XEM, NXM
As a cryptanalysis expert, I’d like to share that Binance made an official declaration on June 3rd, indicating their intent to discontinue the trading of Waves (WAVES), OMG Network (OMG), NEM (XEM), and Wrapped NXM (WNXM) in both spot and margin markets. This decision will be enforced after 03:00 UTC on June 17th, meaning users will no longer be able to execute trades for these cryptocurrencies on the platform.
In periodic assessments conducted by the crypto exchange, it was determined that these digital currencies did not measure up to established industry benchmarks and expectations according to Exchange’s evaluations.
Binance explains that if a coin or token fails to meet certain criteria or if the market conditions shift, a thorough assessment will be conducted. The aim is to provide top-tier services and safeguards for users, while remaining responsive to industry developments.
Starting on September 17, it will no longer be possible to withdraw these tokens from Binance as the exchange will cease its support for them. Prior to this date, Binance will remove these tokens from Binance Simple Earn, Binance Auto-Invest, and Binance Loans programs.
Binance’s Delisting Factors For All Crypto
Binance, the renowned cryptocurrency exchange, assesses and considers listed digital assets to uphold superior quality and meet industry benchmarks. These criteria correspond to Binance’s stringent listing guidelines.
A team’s dedication encompasses various aspects such as project engagement, development tasks, market transaction volume and network liquidity, network reliability and security, smart contract robustness, open communication with the public, cooperation in exchange investigations, adherence to ethical standards and absence of fraudulent behavior or negligence, compliance with regulatory frameworks, and involvement in the broader crypto community.
Prices Tumbled After Announcement
The value of WAVES dropped by more than 25% following Binance’s announcement, now hovering around $1.77. There’s been a significant surge in trading activity, with over 900% increase in volume, as market participants swiftly adjust their investments.
In recent hours, astonishing drops of over 25% for OMG, around 3% for WNXM, and a significant 29% decrease for XEM have occurred.
- Bitcoin Price Has Breakout Against M1 Money Supply, Confirms Peter Brandt
GameStop Jumps 300% As Roaring Kitty Takes Huge GME Call Options
Notcoin (NOT) Price Surge 350% In A Week Hitting New All-Time High
Read More
- SOL PREDICTION. SOL cryptocurrency
- USD ZAR PREDICTION
- AVAX PREDICTION. AVAX cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
- BEN PREDICTION. BEN cryptocurrency
- EUR KRW PREDICTION
- USD PHP PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- PHB PREDICTION. PHB cryptocurrency
- ARKM PREDICTION. ARKM cryptocurrency
2024-06-03 10:16