Binance has made a number of notable moves recently that could impact its users and the broader cryptocurrency market. First, Binance announced support for the Horizen (ZEN) network upgrade, which is scheduled for September 12, 2024. During this upgrade, Binance will suspend deposits and withdrawals of ZEN tokens, but trading will not be affected. The upgrade is aimed at improving the performance and security of Horizen.
Additionally, Binance has decided to delist several cryptocurrencies, including Bitcoin Gold and Monero, in an effort to streamline the platform and focus on tokens with better performance and regulatory compliance. The delisting process will begin in September 2024, and affected users’ balances will be converted to USDC by March 2025.
In addition, a recent report from Binance Research highlighted that the tokenized real-world assets (RWA) market has surpassed $12 billion, driven primarily by the tokenization of US Treasury Bonds. This marks a growing trend of traditional financial institutions adopting blockchain technology in asset management.
These updates reflect Binance’s adjustment strategy in response to regulatory pressure and market trends.
