Binance, one of the leading cryptocurrency exchanges, has announced the delisting and end of trading for several tokens. Effective June 17, 2024, at 03:00 (UTC), spot and margin trading pairs for OmiseGO (OMG), Waves (WAVES), Wrapped NXM (WNXM), and NEM (XEM) will cease to be available on the platform.
Traders need to take note of the specific trading pairs affected by this decision, including OMG/USDT, WAVES/BTC, WAVES/ETH, WAVES/TRY, WAVES/USDT, WNXM/USDT, and XEM/USDT. All trade orders for these pairs will be automatically removed after trading ceases.
Moreover, Binance will no longer credit deposits of these tokens after June 18, 2024, at 03:00 (UTC). Withdrawals of these tokens will also not be supported after September 17, 2024.
For users holding these delisted tokens, there’s a possibility of conversion into stablecoins after September 18, 2024, though this isn’t guaranteed. Binance will provide separate notifications if such conversions occur.
According to Binance’s announcement, other Binance services will also be affected. Binance Simple Earn, Auto-Invest, Loans, Futures, Margin, Convert, Gift Card, and Pay will undergo changes or delistings related to these tokens. For instance, Binance Futures will close all positions for the USDⓈ-M WAVESUSDT Perpetual Contract on June 11, 2024, at 09:00 (UTC), followed by delisting the contract.
Users are advised to take appropriate actions, such as redeeming Flexible and Locked Products positions, repaying outstanding loans, and closing positions in margin accounts, to avoid potential losses or inconveniences.
The decision comes as Binance continues to adjust its offerings in response to changing market dynamics and regulatory considerations. Traders and investors are urged to stay informed about such developments to navigate the evolving cryptocurrency landscape effectively.
In summary, Binance’s delisting and cessation of trading for several tokens signal a strategic shift in its offerings, prompting users to take proactive measures to manage their assets effectively amidst these changes.
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