Binance, a leading cryptocurrency exchange platform, has recently announced its decision to delist four digital assets from its trading platform starting on December 7, 2023.
This action is part of Binance’s routine review process to ensure high standards and compliance.
The tokens affected by this delisting are BitShares (BTS), PERL.eco (PERL), Tornado Cash (TORN), and Waltonchain (WTC).
The decision to remove these tokens is based on an evaluation of several factors, including the team’s commitment to the project, development activity, trading volume, network stability against attacks, and public communication.
The consequences of this move are clear: trading pairs BTS/USDT, PERL/USDT, TORN/BUSD, WTC/BTC, and WTC/USDT will be eliminated.
All trading orders will be automatically removed from Binance once the activity ceases in each corresponding pair
Furthermore, a schedule has been set for post-delist actions: deposits of these tokens will not be credited after December 8, 2023, and withdrawals from Binance will not be supported after March 7, 2024.
Delisted tokens might be converted into stablecoins on behalf of users after March 7, 2024, although this conversion is not guaranteed.
The delisting decision also impacts services associated with these tokens, such as Binance Simple Earn, Binance Loans, Binance Gift Card, Binance Pay, and Trading Bots, with specific service termination dates mentioned in the announcement.
This announcement has immediately affected the prices of these tokens. For instance, BTS experienced a 42% decrease, dropping from $0.01032 to $0.00597 in less than two hours, reflecting investors’ reaction to this news.
