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The world’s leading cryptocurrency and Bitcoin exchange Binance has announced that it has decided to delist 3 coins.
As a result of reviews, the cryptocurrency and Bitcoin exchange Binance decided whether to continue listing certain tokens. Based on Binance ‘s recent reviews, it announced that it has decided to suspend trading in all trading pairs related to DREP (DREP), Mobile Money (MOB) and pNetwork (PNT) tokens as of 03.04.2024.
Binance takes into account various factors when updating the list of digital assets. Among the factors that determine whether to remove a digital asset from the list are commitment to the project of the team, level and quality of development activities, trading volume and liquidity, network’s resistance and security against attacks, network and smart contract stability, level of public communication, responding to periodic status detection requests, evidence of unethical or fraudulent behavior or negligence, new regulatory requirements, contribution to a healthy and sustainable crypto ecosystem.
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For example, it was emphasized that all trading orders will be automatically removed after the transaction is suspended and the “Hide Low Balances” option needs to be checked for the assets to be displayed. In addition, it was stated that withdrawal of delisted tokens from Binance will not be supported after a certain date and can be converted into stablecoins. However, it was stressed that this conversion is not guaranteed and users need to follow updates related to this process.
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Other services offered by Binance will also be affected by these changes. For example, services such as Binance Simple Earn, Binance Loans and Binance Margin have stated that they will update their transactions by considering the tokens removed from the list. All these measures were taken to ensure the security and assets of users. Users are strongly advised to carefully follow updates and take necessary steps.