Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

  • Home
  • altcoins
  • Binance delists 4 altcoins, market reacts 📉🤯
Binance delists 4 altcoins, market reacts 📉🤯

Binance delists 4 altcoins, market reacts 📉🤯

Major Altcoins Delisted by Binance: Impact on Crypto Market

Dear Crypto Enthusiast, in a recent move, Binance, one of the leading crypto exchanges, has announced the delisting of four major altcoins. This decision, set to take effect on June 17, 2024, is part of Binance’s ongoing efforts to maintain a secure trading environment and uphold stringent quality standards. The coins affected by this delisting are OMG Network (OMG), Waves (WAVES), Wrapped NXM (WNXM), and NEM (XEM).

Reasons for Delisting

  • Binance states that the decision to delist these altcoins is based on a thorough assessment of various factors to ensure a high standard of trading quality.
  • Criteria considered include the project teams’ commitment, project development quality, trading activity levels, network stability, community engagement, compliance with regulatory requirements, and overall impact on the blockchain space.

Trading Pairs Affected

  • The trading pairs impacted by the delisting include OMG/USDT, WAVES/BTC, WAVES/ETH, WAVES/TRY, WAVES/USDT, WNXM/USDT, and XEM/USDT.
  • After June 17, all pending orders for these pairs will be automatically canceled, and deposits of these tokens will not be accepted starting June 18.
  • Withdrawals will remain possible until September 17, 2024, after which Binance plans to convert the delisted tokens into stablecoins.

Market Impact

  • Following the announcement of delisting, the value of the affected altcoins experienced significant declines. OMG dropped by 25.76%, WAVES by 27.06%, and XEM by 28.73%, while WNXM saw a less severe decrease of 3.27%.
  • Binance’s decisions regarding altcoin delistings have historically had a profound impact on the crypto market, with previous instances leading to substantial value reductions within hours.

Closing Thoughts on Binance’s Delisting Decision

Dear Reader, it is essential to stay informed about developments like Binance’s delisting of specific altcoins, as they can significantly impact your investment portfolio and the broader crypto market. Be sure to diversify your investments and stay updated on market trends to make informed decisions in the ever-evolving crypto landscape.

Read Disclaimer
This content is aimed at sharing knowledge, it's not a direct proposal to transact, nor a prompt to engage in offers. Lolacoin.org doesn't provide expert advice regarding finance, tax, or legal matters. Caveat emptor applies when you utilize any products, services, or materials described in this post. In every interpretation of the law, either directly or by virtue of any negligence, neither our team nor the poster bears responsibility for any detriment or loss resulting. Dive into the details on Critical Disclaimers and Risk Disclosures.

Share it

Binance delists 4 altcoins, market reacts 📉🤯