After the recent rally, the cryptocurrency market has entered a consolidation phase. While the leading cryptocurrency Bitcoin continues to struggle to stay above $ 63,000, the altcoin market is also showing resistance. As the market fluctuations continue, the leading crypto exchange Binance described some tokens as 'high risk' and emphasized that this step is a requirement of the transparency principle.
Binance Labels 10 Altcoins High Risk!
The world’s largest cryptocurrency exchange, Binance, has implemented a risk warning label for 10 altcoins. The exchange announced that these altcoins have undergone significant changes in the last 18 months and will provide pop-up notifications to inform its users about this. The altcoins labeled as high risk include Travala (AVA), Chiliz (CHZ), Enjin Coin (ENJ), IOTA (IOTA), Lisk (LSK), Metal DAO (MTL), Orion (ORN), Self Chain (SLF), Solar (SXP), and Vanar Chain (VANRY). Binance made the following statements on the subject:
“We always value community feedback and look out for our users! We are now implementing risk alerts for tokens with significant tokenomics changes. This step will increase transparency and help you make more informed investment decisions.”
The exchange reported that users will need to approve pop-up notifications to gain trading access to these tokens starting October 1, 2024. With this change, Binance aims to provide higher levels of security and information to its users.
Orion (ORN) and Lumia (LUMIA) Migration Supported$ORN
Binance is making headlines with new listing and delisting news. According to its official announcement, the exchange is preparing to support the Orion (ORN) main-net swap and its rebranding as Lumia (LUMIA). Binance will delist all existing ORN spot trading pairs (ORN/BTC and ORN/USDT) on October 15 at 06:00 CET and cancel all pending ORN spot trading orders. In addition, all deposits and withdrawals of ORN tokens will be suspended on the same day. It was stated that users should be given enough time to process their ORN deposits before this time. Spot Copy Trade and Trading Bots on ORN-based pairs will be terminated between October 14-15. In addition, the token will be removed from Cross and Isolated Margin on October 3, and ORN products will be removed from the exchange's credit module with the Earn program on October 9-10. All remaining ORN positions will be transferred to users' spot wallets on October 11.
