Binance, a leading cryptocurrency exchange, maintains a rigorous screening of digital assets to meet its standards, periodically reviewing and delisting those that fall short. The exchange recently declared its intention to remove four altcoins from its trading platform. This action comes as part of Binance’s commitment to provide a secure and robust trading environment for its user base.
Binance’s Upcoming Delisting Targets Specific Altcoins
The digital currencies facing delisting are Aragon (ANT), Multichain (MULTI), Vai (VAI), and Monero (XMR). Binance will cease trading for pairs involving these altcoins, including ANT/BTC, ANT/USDT, MULTI/USDT, USDT/VAI, XMR/BNB, XMR/BTC, XMR/ETH, and XMR/USDT. The discontinuation will take effect on February 20, at 6:00 AM local time. Following this, all existing orders for the affected pairs will be automatically canceled.
The platform will also stop accepting deposits for these altcoins on February 21 at 6:00 AM local time. Withdrawal services for the same will be terminated later on May 20 at 6:00 AM local time, concluding the delisting process.
Criteria for Binance’s Delisting Decisions
Binance’s delisting protocol involves comprehensive periodic reviews of listed altcoins to ascertain their compliance with the exchange’s standards. Factors that can influence the decision to delist include the development team’s dedication, quality of development activity, trading volume, liquidity, network security, stability, communication with the public, responsiveness to Binance’s audit requests, ethical conduct, and overall contribution to the crypto ecosystem.
By enforcing these criteria, Binance aims to safeguard its users and uphold the integrity of its trading environment. The delisting of altcoins that fail to meet set benchmarks underscores the exchange’s proactive measures to foster a trustworthy digital asset marketplace.