Binance, one of the largest cryptocurrency exchanges, has announced the delisting of three tokens—Kaon (AKRO), Bluzelle (BLZ), and WazirX (WRX)—on December 25, 2024, as part of its routine review to ensure listed assets meet high standards. Here’s what users need to know about the upcoming changes:
🔶Why Tokens Get Delisted
Binance evaluates tokens based on several factors, including:
• Team commitment to the project.
• Trading volume and liquidity.
• Network stability and security.
• Responsiveness to due diligence requests.
• Contribution to a sustainable crypto ecosystem.
When a token fails to meet these criteria, Binance may decide to delist it.
🔶Key Timeline for AKRO, BLZ, and WRX Delisting
1. Trading Suspension
Spot trading for the pairs AKRO/USDT, BLZ/BTC, BLZ/USDT, and WRX/USDT will cease on December 25, 2024, at 03:00 UTC. All open orders will be automatically canceled.
2. Deposit Deadline
Deposits for these tokens will no longer be credited after December 26, 2024, at 03:00 UTC.
3. Withdrawal Deadline
Binance will support withdrawals of these tokens until February 25, 2025, at 03:00 UTC.
4. Token Conversion (If Applicable)
Binance may convert delisted tokens into stablecoins on behalf of users after February 26, 2025. A separate notification will provide further details if this applies.
🔶Impact on Binance Products
• Futures Trading: The BLZUSDT Perpetual Contract will be settled and delisted on December 23, 2024, at 09:00 UTC. Users should close positions beforehand to avoid automatic settlements.
• Simple Earn: Flexible products for these tokens will be automatically redeemed by December 24, 2024, at 03:00 UTC.
• Margin Trading: Borrowing and trading on margin for these tokens will end on December 23, 2024, at 10:00 UTC. Positions will be settled, and any outstanding liabilities will be resolved.
• Binance Convert: A sell-only function will remain available until December 25, 2024, at 02:00 UTC.
• Binance Pay and Gift Cards: Both services will cease support for these tokens by December 25, 2024, at 03:00 UTC.
🔶User Recommendations
• Withdraw or Transfer Funds: Users should withdraw or transfer their AKRO, BLZ, and WRX tokens to other wallets before the withdrawal deadline.
• Close Positions: Close all trading, margin, or futures positions involving these tokens to avoid losses during the delisting process.
• Review Auto-Invest Plans: Cancel any recurring Auto-Invest plans linked to these tokens by December 20, 2024, at 03:00 UTC.
🔶Conclusion
Binance’s decision to delist AKRO, BLZ, and WRX reflects its commitment to maintaining high standards in its offerings. Users are encouraged to act promptly by reviewing their portfolios, closing positions, and transferring assets to avoid potential inconveniences.
For further updates or assistance, refer to Binance’s official announcements and FAQs.
