Binance, the largest encryption exchange through the trading volume metrics, rejected 14 Altcoins and decided to send the affected tokens to free falls.
The platform has recently adopted a mechanism to participate in the community in a list and a listed process.
Baynis listing 14 altcoins
This exchange revealed the decision on Tuesday’s early Asian sessions. From April 16th, we will list and stop trading in all branches of the named token that started in 03:00 (UTC).
“Following the results of the standard listing process and the completion of the standard due diligence process, Binance will reject BADGER, BAL, BETA, Cream, CTXC, ELF, FIRO, Hard, Nuls, PRO, SNT, Troy, UFT and VIDT.”
The choice of these 14 tokens is known to be based on a comprehensive evaluation of various factors.. Among them, there is a level and quality of development activities, trading volume and liquidity.
Binance Exchange also voted on the decision to participate in the listing and listing plans. Reportedly, 24,141 participants received 103,942 votes, but only 93,680 people were valid.
“The community voting results were evaluated after strictly filtering ineligible votes and invalid votes.
In the aftermath of the listing announcement, 14 tokens fell over the cliff and most of the records recorded two -digit losses.
The turnout is not surprisingSuch announcements often cause prices dRope for tokens affected. Recently, similar announcements have been made to represent three Altcoins: Akro, BLZ and WRX. Similarly, the price has fallen to two digits.
What Binance users need to do
Binance said that all transaction orders will be automatically removed after the transaction is interrupted in each transaction pair. Also, we will terminate the transaction The bot service for the pod transaction pair mentioned above.
According to these guidelines, Binance users must update and/or cancel the trading bot before listing to avoid potential losses.
In particular, if a listing occurs, the unprecedented asset is forcibly sold at a market price or if the amount is not attached, it will be moved to the SPOT account. Similarly, the evaluation of the token is no longer displayed in the user account after listing.
The deposits of this token are also not applied to the user’s account after the listing time. Meanwhile, withdrawal of these tokens in Binance is not supported for 03:00 UTC after June 9th.
Binance added, “After 1225-06-10 03:00 (UTC), it can be converted to Stablecoin on behalf of the user.” Binance added.
Meanwhile, Binance Exchange is worth noting that the movement to participate in the democracy that lists and lists on the community has been criticized. As reported by Beincrypto, the exchange caused concern about whether the exchange was first handled by the BSC chain token.
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