clarifying the situation of $TROY
:
Binance Suspends TROY Deposits on BSC Network, Price Dumps 43%
Binance, the leading cryptocurrency exchange, has suspended deposits of the TROY token on the Binance Smart Chain (BSC) network due to a potential security risk with the BSC-based smart contract.
Key Points:
* Delisting: No, TROY is not being delisted from Binance.
* Trading: Trading of TROY on Binance continues.
* Deposits:
* Suspended: Deposits of TROY on the BSC network are temporarily suspended.
* Allowed: Deposits of TROY on the Ethereum network are still permitted.
* Withdrawals: Withdrawals of TROY are still possible.
* Reason: The suspension stems from concerns that the TROY team has not adequately verified the collateral of tokens minted on the BSC network.
* Price Impact: The suspension triggered a 43% price drop for TROY.
* Rumor Refuted: The TROY team has denied rumors of a project sale.
* Future Plans: The team is pursuing the acquisition of another AI project.
In Summary:
While TROY deposits on the BSC network are currently suspended, the token is not being delisted from Binance. Trading and withdrawals remain active. The price drop primarily resulted from the suspension and concerns about the BSC-based smart contract.
Disclaimer: This information is for general knowledge and does not constitute financial advice.