Binance, one of the largest cryptocurrency exchanges, announced that it will remove three altcoins from its platform on April 18, 2023. Here are the details…
Binance made a new delist announcement
cryptocoin.com As we have also reported, Binance, the world’s largest cryptocurrency exchange in terms of daily trading volume, has made a new delist announcement. The exchange is delisting three altcoins. The tokens to be delisted are Kepple (QLC), Neblio (NEBL) and Auto (AUTO). Binance has announced that it will stop trading on all trading pairs for these tokens, which will be delisted as of April 18, 2023, at 06:00 Turkish time.
The definitively removed trading pairs were as follows: QLC/BTC, NEBL/USDT, NEBL/BUSD, NEBL/BTC, AUTO/USDT, AUTO/BUSD and AUTO/BTC. All trading orders will be automatically removed after trading has ended on each respective trading pair. It will not be possible to deposit and transfer these tokens to users’ accounts after April 19, 2023, 06:00 CEST. The withdrawal of these tokens from Binance will continue to be supported until July 18, 2023 at 06:00.
On the other hand, Binance’s margin trading will remove AUTO/USDT, AUTO/BUSD and AUTO/BTC trading pairs from isolated margin as of April 17, 2023 at 06:00. Binance Simple Earn, Gift Card, and Pay will also delist the tokens on the same day. Binance will end its strategy trading services for the above-mentioned spot trading pairs as of April 18, 2023 at 06:00 CEST.
Cryptocurrency price crashed
After Binance’s announcement, the prices of the three altcoins at the focus of the delist news fell. NEBL has dropped 26 percent in the last 24 hours. AUTO suffered a 36 percent loss in value. QLC recorded the biggest decline, crashing by 64 percent.
Why is the stock market delisting these coins?
Binance stated that it periodically reviews the cryptoassets listed on its platform to ensure they meet the high standard level it expects. When a token no longer meets the standards or the industry changes, Binance conducts an in-depth review and may delist the token. According to the exchange’s statement, the platform considers several factors when deciding whether to delist a crypto-asset.
These factors include team commitment to the project, level and quality of development activity, trading volume and liquidity, network stability and security against attacks, network/smart contract stability, level of public communication, response to periodic due diligence requests, unethical/fraudulent behavior or evidence of neglect and contribution to a healthy and sustainable crypto ecosystem.
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