One of Turkey’s leading cryptocurrency exchanges Bitci Its CEO, Ahmet Onur Yeygün, announced minutes ago that an important poll concerning the local token BITCI has ended.
Addressing customers from his Twitter account, the CEO said, as a result of the survey, for the fan tokens listed on the stock market. BITCI / Fan Token announced that they have decided to delist their parity.
Friends. The survey is over. The vote to remove the Bitci parity was 73%. There is no absolute truth in this, but I think that the removal of the Bitci market will be better for both Bitci and Fan tokens. That’s why we’re removing the Bitci market from the stock market next Tuesday.
— Ahmet Onur Yeygun (@onuryeygun) February 15, 2023
CEO Ahmet Onur Yeygün stated that they will delist these parities from the stock market on February 21, 2023. Bitci’s boss added that Fan Token / Turkish Lira parities will be active so that investors are not victimized during the transition process.
Why Removed?
Private fan tokens listed on the Bitci exchange could only be purchased via the local cryptocurrency BITCI.
Investors have long complained that this poses a liquidity problem. Hearing the criticism, the CEO submitted the issue to customer voting yesterday afternoon.
Hello friends. I know we are going through bad days, but on the one hand, changes continue in the Bitci stock market. I have a question for bitcoin investors. Your answers are important to us. Do you think we should remove the Bitci parity (Fan token / BITCI) from the stock market?
— Ahmet Onur Yeygun (@onuryeygun) February 14, 2023
How Was BITCI Price Affected?
Local token of the Turkish stock market BITCI The price was positively affected after the CEO’s announcement.
From February 6 to the time of the announcement, the BITCI token shed 17%, moving up 10% within hours.
Although investors are satisfied with this move, some users are worried that the BITCI token will no longer function with the delisting process.
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