Binance to Delist Four Altcoins in Move to Safeguard Trading Environment
Binance, the world's leading cryptocurrency exchange, has announced plans to delist four altcoins: OMG Network (OMG/USD), Waves (WAVES/USD), Wrapped NXM (WNXM/USD), and NEM (XEM/USD). The delisting, effective June 17, 2024, follows a thorough review conducted by Binance to ensure a safe and secure trading environment for its users.
This decision will have a significant impact on the delisted currencies. Trading for all associated currency pairs will cease on the exchange, and the market prices of the affected altcoins are expected to experience major fluctuations.
While Binance hasn't disclosed specific details about the reasons behind the delisting, it highlights their commitment to maintaining a high standard within their platform. This often involves reviewing the listed currencies to identify potential risks that could compromise user safety.
Impact on Investors
Investors holding these delisted coins on the Binance exchange will need to take action before June 17th. Here's a breakdown of the key dates:
Trading Halt: All trading orders for the aforementioned coins will be automatically cancelled after trading stops at 06:00 AM UTC on June 17, 2024.
Deposit Freeze: Deposits of the delisted tokens will no longer be accepted after June 18, 2024, at 06:00 AM UTC.
Withdrawal Window: Users will have until September 17, 2024, at 06:00 AM UTC, to withdraw their delisted coins from their Binance wallets.
Investors are advised to closely monitor the situation and make informed decisions regarding their holdings of these delisted altcoins. They may consider transferring them to a different exchange that still supports them before the withdrawal window closes.