Binance, one of the world's leading cryptocurrency exchanges, has announced the delisting of five digital assets from its platform, effective August 26, 2024. The affected tokens are ForTube (FOR), Ellipsis (EPX), Voyager Token (VGX), PowerPool (CVP), and Reef (REEF). This decision is part of Binance's regular review process to ensure that all listed assets meet the exchange's high standards of performance and compliance.
Why Delisting Matters
Delisting can have significant implications for users holding these assets. Once removed from Binance, these tokens will no longer be available for trading or conversion on the platform. Users must take necessary actions before the delisting date to avoid potential losses.
What Users Should Do
If you hold any of the affected assets in your Binance account, follow these steps:
1. Withdraw or Convert Your Assets: Withdraw your holdings or convert them into other assets listed on Binance before the delisting occurs.
2. Stay Informed: Keep an eye on further announcements from Binance, as delisting may affect wallet services.
3. Consider External Wallets: If you plan to hold onto these assets, transfer them to an external wallet that supports these cryptocurrencies.
4. Evaluate Market Options: Explore other exchanges that may list these tokens, but exercise caution and ensure the platform has a solid reputation and liquidity.
Reasons for Delisting
Binance's decision to delist these tokens likely stems from several factors:
1. Low Trading Volume: Consistent decline in trading volume may signal waning interest from the community.
2. Lack of Development Activity: Tokens that fail to show ongoing development or improvement often fall out of favor.
3. Regulatory Concerns: Regulatory issues might influence delisting, especially if a token no longer aligns with Binance's compliance standards.
4. Market Performance: Significant declines in price and market cap can indicate a project's unsustainability.
Final Thoughts
Delistings are a routine part of the cryptocurrency exchange ecosystem, necessary to maintain a healthy trading environment. If you hold any of the affected tokens, act before the delisting date to navigate this transition smoothly. Stay informed and monitor Binance's official channels for further updates.
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The European Central Bank dismisses #Bitcoin as a "speculative asset" and reaffirms its commitment to the development of a Digital Euro (#CBDC ). ECB Executive Director Isabel Schnabel emphasizes the differences and outlines the cautious approach towards #Cryptoassets

💬 ECB's Stance: Schnabel, speaking through the ECB X account, clarifies that the #centralbank has no plans to purchase $BTC , categorizing it as a speculative asset that lacks the characteristics of money. The ECB remains focused on its exploration of a digital euro
Digital Euro Development: Schnabel underscores the ECB's commitment to the digital euro, aiming for a fast, easy, and secure instrument for daily payments. The ECB sees this digital currency coexisting with physical #money , not replacing it, in efforts to adapt to an evolving financial landscape
🔍 Lack of Intrinsic Value: The ECB cites concerns over crypto-assets, emphasizing their perceived lack of intrinsic economic value, high volatility, and speculative nature. Schnabel notes that Bitcoin's market valuation is driven purely by speculation
🚫 Bitcoin Rejection: Schnabel explicitly states, "The ECB is very unlikely ever to buy BTC reinforcing the central bank's stance on steering clear of the leading cryptocurrency. The ECB's strategic vision aligns with a regulated and controlled digital euro
🚀 Digital Euro Benefits: The ECB aims to launch the digital euro in 2026, under strict regulatory supervision. Schnabel highlights its potential as a widely accepted, secure, and privacy-respecting payment option. The digital euro is positioned to coexist with traditional cash
🤨 Privacy Concerns Addressed: Schnabel dismisses concerns about personal privacy related to the digital euro, asserting that it would offer an additional, ECB-backed payment option while meeting the highest privacy standards, akin to physical cash
In summary, the ECB's cautious approach to Bitcoin aligns with its strategic focus on developing a regulated and controlled digital euro. The central bank aims to address evolving financial needs while maintaining privacy standards and steering clear of speculative assets