In the ever-changing world of the cryptocurrency industry, every decision can cause a storm. Recently, Binance’s series of operations on Gifto (GFT) tokens have attracted the attention of the entire market. The originally calm cryptocurrency market was turned upside down by the news that GFT was about to be delisted.
Binance has always regarded user experience as its guiding principle, constantly adjusting its course in the tide of the market and protecting the security of users' assets. But this time, GFT was pushed to the forefront. When Binance conducted an in-depth review of the project, it comprehensively considered many factors. Is the team's commitment to the project as firm as before? Can the level and quality of the project be up to standard? Are the trading volume and liquidity healthy and stable? Is the stability and security of the network sufficient to resist attacks? Is the smart contract as solid as a rock? Is the community maintenance attentive? Is there a positive response to Binance's review? Is there any unethical or even fraudulent behavior? And what is the contribution to the construction of the entire blockchain ecosystem? These factors are like weights on the scale, which ultimately determine the fate of GFT-it will stop trading and be delisted at 11:00 on December 10, 2024 (Eastern Time Zone 8).
However, the plot suddenly reversed at this moment. On November 29, 2024, Binance suddenly announced the suspension of GFT recharges because of potential security issues in its smart contracts. This news was like a bombshell, and it exploded in the market. But unexpectedly, the price of GFT then soared like a rocket, up 200%. This crazy rise caught the air force off guard and made them complain. Rumors spread in the market, and some people questioned whether this was a conspiracy of Binance, deliberately pulling the market before delisting, and then backhanding the air force to harvest a wave of leeks.
In this chaotic situation, Binance is still advancing the delisting process in an orderly manner. First, GFT's related operations in various business sectors were suspended, and the leveraged trading platform was frequently adjusted. The position-by-position leveraged lending business and the full-position leveraged lending business were suspended one after another, and the closing and liquidation of positions were also carried out in full swing. At the same time, in order to protect the rights and interests of users, Binance has also made detailed arrangements for withdrawal business and capital-guaranteed profit business.
For ordinary investors, this is undoubtedly a thrilling game. Those who hold GFT are wandering between hope and despair. On the one hand, they expect Binance's final audit to turn around, or to be able to get out of this final frenzy; on the other hand, they are worried that they will become victims of this storm and be ruthlessly cut off. And those air force, who originally thought they had a sure win, were dizzy by this sudden pull, and could only watch their losses continue to expand.
As the delisting date approaches, the fate of GFT becomes more and more uncertain. Will it survive at the last minute, or will it leave the market as planned? How will Binance maintain its reputation and user trust in this storm? The entire cryptocurrency community is waiting to see how this drama will play out.
