Long-awaited delisting announcement came from the major cryptocurrency exchange Binance. In the announcement made by the cryptocurrency exchange, it was stated that BitShares (BTS), PERL.eco (PERL), Tornado Cash (TORN), and Waltonchain (WTC) will be delisted and removed from the list of listed altcoins.
Binance, the world’s largest cryptocurrency exchange in terms of trading volume, recently announced that it will delist BTS, PERL, TORN, and WTC. Starting from December 7th at 06:00 (UTC), the BTS/USDT, PERL/USDT, TORN/BUSD, WTC/BTC, and WTC/USDT trading pairs will be removed, and BTS, PERL, TORN, and WTC will be removed from the list of listed altcoins.
Furthermore, starting from December 8th at 06:00 (UTC), deposits will not be accepted for these altcoins. Withdrawals, on the other hand, will be stopped starting from March 7th, 2024 at 06:00 (UTC).
Reasons Behind the Delisting Decision for Altcoins
Binance regularly conducts reviews to ensure that each listed altcoin continues to meet the high standard expected. The cryptocurrency exchange makes delisting decisions for altcoins that do not meet this standard or when there are changes in the industry.
According to the delisting announcement from Binance, several factors are considered during these reviews, including the team’s commitment to the project. The other factors mentioned include:
- Level and quality of development activity
- Trading volume and liquidity
- Network’s resilience and security against attacks
- Stability of the network/smart contracts
- Level of public communication
- Responsiveness to periodic status checks
- Evidence of unethical/fraudulent behavior or negligence
- Contribution to a healthy and sustainable crypto ecosystem
