Binance continues to ensure that each altcoin it lists meets the high standards it expects by regularly reviewing them. The cryptocurrency exchange removes a coin or token from its list of listed altcoins when it no longer meets these standards. In line with this, Binance recently announced that it will delist 4 altcoins.
Binance to Delist ANT, MULTI, VAI, and XMR
Binance, aiming to protect all its users in the best possible way, announced that it will delist Aragon (ANT), Multichain (MULTI), Vai (VAI), and Monero (XMR) following its latest reviews. Accordingly, Binance will remove the trading pairs ANT/BTC, ANT/USDT, MULTI/USDT, USDT/VAI, XMR/BNB, XMR/BTC, XMR/ETH, and XMR/USDT from spot trading. The trading pairs will be removed on February 20 at 06:00 AM local time.
All open orders for the mentioned altcoins will be automatically canceled after the end of trading in the respective pairs. Deposits for the altcoins will be stopped on February 21 at 06:00 AM local time, and withdrawals will be halted on May 20 at 06:00 AM local time.
Why Does Binance Delist an Altcoin?
Binance ensures that each altcoin it lists is periodically reviewed to maintain the high standards expected. If a coin or token no longer meets these standards or the industry changes, Binance conducts a more in-depth review and potentially decides to delist it. By doing so, the cryptocurrency exchange believes it is protecting all its users in the best way possible.
The cryptocurrency exchange takes various factors into account during these reviews. Here are some of the factors shared by Binance that can lead to the delisting of an altcoin:
- The team’s commitment to the project
- The level and quality of development activity
- Trading volume and liquidity
- The network’s stability and security against attacks
- Network/smart contract stability
- Level of public communication
- The ability to respond to Binance’s periodic audit requests
- Evidence of unethical/scam behavior or negligence
- Contribution to a healthy and sustainable crypto ecosystem
