Attention buyers! Binance will delist these 5 coins on 12/10, the worst one has already big dump 40%

Binance will delist these 5 currencies on 12/10

Binance, the world's largest exchange, announced yesterday (26th) that it will delist all Spot trading pairs of the following 5 cryptocurrencies at 11:00 am on December 10, 2024 (Taiwan time): Gifto ($GFT), IRISnet ($IRIS), SelfKey ($KEY), OAX ($OAX), and Ren ($REN).

Binance stated in the announcement that it will regularly review the listed assets of encryption to ensure that the listed currencies are of high standards.

When a contemporary coin no longer meets the standards of the coin and significant changes occur in the industry environment, Gate.io will conduct a thorough project review and may delist it. Key considerations include: the team's commitment to the project, the level and quality of project advancement, volume and liquidity, network stability and security, and the degree of contribution to the entire Block chain ecosystem.

Gate.io will introduce 5 delisted currencies

Gifto ($GFT): A project that adopts blockchain technology and is dedicated to the field of content creators, with the aim of providing new financing and reward mechanisms for creators to change the traditional content creation model.

IRISnet（$IRIS）: A blockchain network developed using the Cosmos SDK, endowed with strong interoperability within the Cosmos ecosystem through the IBC protocol, and dedicated to becoming the infrastructure for decentralized applications (dApps).

SelfKey ($KEY): A Decentralization platform that allows users to take control of their self-sovereign identity, enabling them to securely own and protect their data from third-party interference.

OAX ($OAX): divided into layer 1 and layer 2 protocol. Layer 1 is built on EthereumMainnet, using $OAX Token, while layer 2 provides a scalable solution for decentralized exchange.

Ren ($REN): An Open Source blockchain protocol that provides Interoperability and Liquidity between different blockchain platforms. Its main product is RenVM, a protocol that brings Interoperability to CeFi (DeFi).

Impact after Binance announcement: 5 currencies all big dump.

After Binance announced the delisting of these 5 currencies, their prices have been severely hit. As of the time of writing this morning (27th), $REN has fallen by 19.17% in the past few days, $GFT has fallen by 36.78%, $OAX has fallen by 42.21%, $IRIS has fallen by 41.14%, and $KEY has also fallen by 29.37%.

As coin安 is the largest centralized exchange in terms of volume globally, when these coins are delisted, Liquidity may also decrease significantly, which may have a continuous negative impact. Investors need to closely follow their future performance trends.

Source: Binance Binance will delist Gifto ($GFT), IRISnet ($IRIS), SelfKey ($KEY), OAX ($OAX) and Ren ($REN) on 12/10.

What should users pay attention to when delisting these coins?

According to the announcement of Binance, users need to pay attention to the following matters:

After 11:00 on December 10, 2024, the above currency will no longer be traded on the Binance platform for spot trading, and all open orders will be automatically removed.

After 11:00 on December 11, 2024, deposits of the above-mentioned currencies will no longer be accepted.

After 11 o'clock on February 12, 2025, the withdrawal service of these coins will also be stopped, so holders should remember to withdraw them.

After 11 o'clock on February 13, 2025, if the user's coin account still holds these coins, they may be automatically converted into stable coins, but the exchange rate cannot be guaranteed.

Binance also stated that the earning, fixed-term products, and lending services related to the above-mentioned currencies will be adjusted or suspended accordingly. Therefore, users need to pay attention to the relevant time Node to avoid financial losses.

Attention buyers! Binance will delist these 5 coins on 12/10, with the worst one experiencing a big dump of 40%. This article was first published in 'encryption city'.