Binance will delist $AKRO, $BLZ, and $WRX on Christmas.
Binance Exchange announced yesterday (12/18) that it will suspend trading and delist three cryptocurrencies on December 25, 2024, at 11:00 AM (Taiwan time): Kaon ($AKRO), Bluzelle ($BLZ), and WazirX ($WRX).
Binance states that to ensure high quality of listed coins, they will conduct regular reviews. When a token no longer meets listing standards or there are significant changes in the industry environment, Binance will conduct an in-depth review and may delist it.
Binance considers multiple factors during the review process, including the team's commitment to the project, quality standards during project advancement, trading volume and liquidity, network stability and security, community maintenance, and contributions to the overall blockchain ecosystem.
Introduction to the three coins that Binance will delist.
Kaon ($AKRO): Originally named Akropolis, it is a decentralized finance protocol built on Ethereum, primarily providing a self-sovereign financial ecosystem that allows users to save and increase wealth through lending. The project first appeared in March 2018 and launched on the Ethereum mainnet in June 2020.
Bluzelle ($BLZ): Bluzelle Chain has a processing capacity of 10,000 TPS and can seamlessly interoperate with the Cosmos chain. In addition to strong security, it also offers efficient data storage and management capabilities.
WazirX ($WRX): WazirX is an Indian cryptocurrency exchange established in 2018, but was hacked in July 2024, losing cryptocurrencies worth $235 million at that time, and immediately suspended related trading. Market rumors say WazirX has been acquired by Binance, but the company later denied this and took no responsibility for the hack.
Impact after Binance's delisting announcement: $WRX once plummeted nearly 60%.
After Binance's announcement, all three tokens experienced significant declines. The worst hit was $WRX, which fell by -57.89%, priced at $0.0971; followed by $BLZ, with a decline of -46.38%, priced at $0.0682; while $AKRO's decline was relatively smaller but still reached -38.50%, priced at $0.002410.
Image source: Screenshot from Crypto City. Binance announces the delisting of three cryptocurrencies: Kaon ($AKRO), Bluzelle ($BLZ), and WazirX ($WRX).
What should users pay attention to as Binance delists cryptocurrencies?
According to Binance's announcement, users need to pay attention to the following important timelines and matters:
Trading suspension time: Trading for pairs such as AKRO/USDT, BLZ/BTC, BLZ/USDT, WRX/USDT will stop at 11:00 AM (Taiwan time) on December 25, 2024, and all pending orders will be automatically revoked.
Deposit deadline: After 11:00 AM on December 26, 2024, deposits for these tokens will not be credited to the Binance wallet.
Withdrawal deadline: Users can withdraw these tokens until 11:00 AM on February 25, 2025. If no withdrawal is made, they will be automatically converted to stablecoins after 11:00 AM on February 26, 2025, and the conversion rate cannot be guaranteed.
In addition, Binance will gradually close various services for these coins at different times, including contract trading, margin trading, flash swap trading, and principal-protected earning features.
Binance advises users to closely monitor all deadlines and handle related assets in a timely manner to avoid potential losses. Users holding these tokens should complete asset transfers or disposals within the stipulated time to ensure their rights.
[Disclaimer] The market has risks, and investments should be made with caution. This article does not constitute investment advice, and users should consider whether any opinions, views, or conclusions in this article align with their specific circumstances. Investing based on this is at your own risk.
‘Attention to buyers! Binance will delist these 3 coins on Christmas, the worst has already fallen 60%’ this article was first published in ‘Crypto City’
