On December 10, 2024, Binance will delist several altcoins, including Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX, and Ren (REN). The exchange stated that this decision was made following regular assessments based on the performance of the projects and sector requirements. Trading for these altcoins will cease on the specified date, and users will only be able to withdraw their assets for a limited time.
Important Dates Announced for Altcoins
Binance has warned its users about potential risks and shared crucial dates. Trading for the specified altcoins will stop at 06:00 UTC on December 10, 2024. Users will not be able to deposit these altcoins starting December 11, 2024. Additionally, withdrawals can be made until February 12, 2025. Binance advised users to close all positions on time to avoid potential losses during this process.
Binance Simple Earn products will also be removed for these altcoins starting December 6, 2024. After this date, investments will be automatically transferred to spot wallets. Furthermore, Binance Futures will close futures contracts for KEY and REN on December 3, 2024. The cryptocurrency exchange recommends that users close their open positions before this date.
Considerations for Users
Binance plans to offer various conversion options for the delisted altcoins; however, it has clarified that these conversions are not guaranteed. Binance Convert will only allow the sale of the relevant altcoins, and this service will end on December 10, 2024. The exchange urges users to convert or withdraw their assets in a timely manner to avoid issues.
