Binance has made a significant announcement: five cryptocurrencies will be delisted in December, effective due to ongoing compliance and regulatory concerns. If you hold any of these tokens, it's crucial to act quickly to avoid any disruption to your assets!
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📅 Key Tokens to Be Delisted
Binance has confirmed that the following digital assets will no longer be available for trading starting December 10, 2024, at 03:00 UTC:
1. Gifto (GFT)
2. IRISnet (IRIS)
3. SelfKey (KEY)
4. OAX (OAX)
5. Ren (REN)
#### Affected Trading Pairs:
- GFT/USDT
- IRIS/USDT
- KEY/USDT
- REN/BTC, REN/USDT
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🗓️ Important Dates to Note
- Spot Trading Ends: December 6, 2024
- Deposits Cease: December 12, 2024
- Withdrawals End: February 12, 2025
Make sure to act before these deadlines to avoid any issues with your holdings.
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📉 Price Drops Following the Announcement
The news of these delistings has led to immediate market reactions, with several tokens seeing significant price drops:
- Gifto (GFT): -30.6%, now priced at $0.01242
- SelfKey (KEY): -29.7%, now priced at $0.00262
- OAX (OAX): -37.2%, the biggest drop of the group
- Ren (REN): -36.1%, now at $0.03716
- IRISnet (IRIS): -34.8%
These price declines highlight the urgency for users to take action quickly if they hold any of these tokens.
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🧐 Why Is Binance Delisting These Coins?
The delistings come as part of Binance's ongoing efforts to ensure a safe and compliant trading environment. The exchange carefully evaluates tokens based on several factors, including:
- Project Development and Progress
- Network Security and Stability
- Regulatory Compliance
By removing tokens that don’t meet these standards, Binance aims to safeguard its platform and maintain a high-quality experience for its users.
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🔑 What You Should Do Next
If you're holding any of the affected tokens, here are your next steps:
1. Withdraw Your Assets: Ensure you transfer any affected tokens to external wallets or other exchanges before February 12, 2025.
2. Track Your Futures Positions: Note that KEYUSDT and RENUSDT perpetual contracts will automatically settle on December 3, 2024.
3. Prepare for Potential Token Conversion: Binance may offer an option to convert your tokens to stablecoins after February 13, 2025, but this is not guaranteed.
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🌐 Stay Proactive and Stay Informed
While delistings can be inconvenient, they are a part of Binance's commitment to a secure and regulated environment. Don't wait—take action now to protect your investments!
For the latest updates and to stay informed about future changes, be sure to follow Binance's official channels. 🚀
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