Binance will remove these cryptocurrencies from its platform

Binance officially announced this Monday that it will eliminate four cryptocurrencies from its platform starting December 7.


IMPORTANT POINTS:

  • Binance will remove several tokens from the exchange starting December 7 due to “low activity” and “unethical conduct.”
  • BitShares (BTS), PERL.eco (PERL), Tornado Cash (TORN), and Waltonchain (WTC) will cease trading on the exchange.
  • All of these cryptocurrencies suffered significant losses following the news.

Binance officially announced this Monday that it will eliminate four cryptocurrencies from its platform starting December 7.

These are: BitShares (BTS), PERL.eco (PERL), Tornado Cash (TORN) and Waltonchain (WTC) due to low activity” and “unethical conduct.”

In detail, the following trading pairs will be stopped: BTS/USDT, PERL/USDT, TORN/BUSD, WTC/BTC and WTC/USDT.

“At Binance we regularly review every digital asset we list to ensure it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard, or the industry changes, we conduct a deeper review and potentially delist it. “We believe this better protects all of our users.”Official Communiqué.

After the news, these cryptocurrencies plummeted. Waltonchain has accumulated a drop of more than 44% in the last 24 hours. It went from 0.17 USD to 0.091 USD.
In addition, it registers a loss of 99.8% from its all-time high, when it touched $46 in January 2018. It is currently in position 896 in the market capitalization ranking.

BitShares, for its part, has plunged 24.4% so far this day, trading at $0.0081. Like WTC, it records a 99.1% drop from its ATH in January 2018. It is currently ranked 634.

PERL.eco has collapsed almost 50% in just 24 hours trading at $0.0088, falling to 1034th place in terms of market capitalization. Furthermore, it has lost 97% since its ATH, when it reached $0.29 in April 2021.

Tornado Cash, finally, has fallen 45% to $1.98 in the last 24 hours. It is currently ranked 911 in the ranking and has accumulated a loss of 99.5% since its all-time high, when it reached $437 in February 2021.

Binance had also delisted other tokens

Last week, the exchange had also delisted ten pairs, including APT/BUSD, AXS/BUSD, FIL/BUSD, and USTC/BUSD, citing lack of “ liquidity and poor trading volume .”

This is a difficult time for Binance, as it faces the resignation of its founder Changpeng “CZ” Zhao, the payment of a financial fine imposed by the SEC, and massive customer withdrawals.

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