A Binance It will delist more altcoins by April 28, 2025. Cryptocurrency holdings will be converted to USDC and withdrawals will be supported until October 28, 2024.
Notification of withdrawal of tokens and conversion to USDC
Binance recently warned him users to take a snapshot of their stock and show it before October 29, 2024. The company promised to convert the stocks to an equivalent USDC amount by April 28, 2025. The exchange will take place at the average USDC exchange rate for the period between the two dates.
Binance will update the announcement and send a separate email to all affected users when the conversion of the aforementioned tokens is complete. Deposits involving the following cryptocurrencies are no longer supported, while withdrawals will remain available until October 28.
According to the announcement the following tokens will be delisted.
- Go (GO)
- Tornado Cash (TORN)
- OMG Network (OMG)
- WAVES
- NEM (SEE)
- BarnBridge (BOND)
- Dock (DOCK)
- Mdex (MDX)
- Polka starter (POLS)
- Pundi X PURSE (PURSE)
The conversion will be completed by 23:59 (UTC) on April 28, 2025 and will apply to the holdings in users’ wallets. During the conversion period, users will not be able to view the above tokens in their Binance wallet, the announcement concludes.
More altcoins may be deleted by Binance
The world’s largest crypto exchange previously identified five altcoins that could potentially be delisted. The price of the affected BLZ, CLV, KEY, PROS and VITE tokens was shaken by the announcement.
Recently, Binance has been paying more attention to the verification of tokens. They also examine stability, trading volume, and development activity. The stock market already also provides a warning for rapidly changing tokensthus increasing security and transparency.
The mentioned tokens were previously added to the company’s Monitoring Tag list, indicating increased scrutiny due to increased volatility and risks. With the list, Binance highlights tokens that no longer meet the strict listing criteria.
As a result of the alert, the five altcoins suffered a sharp price drop. The most significant drop was experienced by VITE, which fell by nearly 25%. This was followed by PROS and CLV with a fall of 15.74% and 15.22%, respectively. The exchange rates of KEY and BLZ also fell, but a part of the decrease has since been recovered.