5 Tokens Crash in Price After Binance Delists Them
Earlier right this moment, Binance introduced it’ll delist 5 tokens—Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX (OAX), and Ren (REN)—from all buying and selling pairs.
Based on the announcement, the delisting will take impact on December 10, 2024, at 03:00 UTC.
Binance mentioned the choice is a part of its routine evaluate course of, the place it checks belongings to make sure they meet the requirements wanted for high-quality buying and selling situations. The affected buying and selling pairs embrace GFT/USDT, IRIS/USDT, KEY/USDT, OAX/BTC, and REN/USDT.
The trade warned that after the given deadline, any pending orders for these tokens will likely be mechanically canceled. Deposits for these tokens can even cease, and withdrawals will now not be allowed after February 2025. Binance advises customers to shut their positions or switch their tokens earlier than the cutoff to keep away from issues.
Following the announcement, the costs of the 5 tokens dropped sharply as merchants rushed to unload their holdings. GFT fell 32%, IRIS dropped 36%, SelfKey (KEY) misplaced 30%, OAX (OAX) fell by 31%, and Ren (REN) dropped 32%, in response to CoinGecko.
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