Binance has announced its decision to delist four digital assets: OmiseGO (OMG), Waves (WAVES), Wrapped NXM (WNXM), and NEM (XEM). The announcement, made on June 3, 2024, has affected these tokens, causing price drops and trending on social media platforms.
Periodic Review and High Standards
Binance periodically reviews each listed digital asset to ensure that it continues to meet the exchange’s high standards and industry requirements. When a coin or token no longer meets these standards or the industry landscape changes, Binance conducts a more in-depth review and potentially delists it.
The exchange prioritizes the best services and protections for its users while adapting to evolving market dynamics.
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Show more +Show less – Factors Considered in Delisting Decisions
Binance considers a variety of factors when conducting these reviews, including:
Commitment of team to project
Level and quality of development activity
Trading volume and liquidity
Stability and safety of network from attacks
Network / smart contract stability
Level of public communication
Responsiveness to periodic due diligence requests
Evidence of unethical/fraudulent conduct or negligence
New regulatory requirements
Contribution to a healthy and sustainable crypto ecosystem
Trading Pairs and Deadlines
The following trading pairs will be removed on June 17, 2024, at 03:00 (UTC):
OMG/USDT
WAVES/BTC
WAVES/ETH
WAVES/TRY
WAVES/USDT
WNXM/USDT
XEM/USDT
All trade orders will be automatically removed after trading ceases in each respective trading pair. Deposits of these tokens after June 18, 2024, at 03:00 (UTC) will not be credited to users’ accounts. Withdrawals of these tokens from Binance will not be supported after September 17, 2024, at 03:00 (UTC).
The announcement of the delisting has had an immediate impact on the prices of the affected tokens. As of the time of writing, OmiseGo (OMG) is down 9.42%, Waves (WAVES) has dropped 10.82%, Wrapped NXM (WNXM) is down 1.30%, and NEM (XEM) has fallen 7.49% in the last 24 hours.
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The post Binance to Delist OmiseGO (OMG), WAVES, Wrapped NXM (WNXM), and NEM (XEM): Token Prices Crash appeared first on CaptainAltcoin.