Earlier today, Binance announced it will delist five tokens—Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX (OAX), and Ren (REN)—from all trading pairs.Â
According to the announcement, the delisting will take effect on December 10, 2024, at 03:00 UTC.
Binance said the decision is part of its routine review process, where it checks assets to ensure they meet the standards needed for high-quality trading conditions. The affected trading pairs include GFT/USDT, IRIS/USDT, KEY/USDT, OAX/BTC, and REN/USDT.
The exchange warned that after the given deadline, any pending orders for these tokens will be automatically canceled. Deposits for these tokens will also stop, and withdrawals will no longer be allowed after February 2025. Binance advises users to close their positions or transfer their tokens before the cutoff to avoid problems.
Following the announcement, the prices of the five tokens dropped sharply as traders rushed to sell off their holdings. GFT fell 32%, IRIS dropped 36%, SelfKey (KEY) lost 30%, OAX (OAX) fell by 31%, and Ren (REN) dropped 32%, according to CoinGecko.
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