The world's largest cryptocurrency trading platform, Binance, has announced a major update that involves the removal of multiple tokens from its platform.
According to an announcement released earlier today, the exchange has scheduled the removal of 23 cryptocurrencies from its Alpha platform for April 30.
While the massive delisting involved the removal of new crypto projects with no profound recognition, the move was broadly supported by the crypto community.
23 Crypto startups exit Binance Alpha
According to the announcement, the assets that have been listed for removal include REX, XO, TANSSI, DARKSTAR, YALA, RCADE, RDAC, SKATE, OVL, SLAY, Ghibli both on the Solana and BSC network, PHY, VLR, SVSA, WBAI, EDGEN, FAIR3, MM, BUBB, AICELL, XLAB, and SIGHT.
While the tokens will not be entirely removed from the Binance ecosystem, the exchange specified that the delisting applies strictly to the trading options on Binance Alpha.
As such, it noted that users will still be able to sell or withdraw their holdings after the deadline. This offers them the opportunity to manage positions without immediate liquidation pressure despite the removal.
Community reacts
Furthermore, Binance has also provided affected users with multiple options to protect them from the risk of permanently losing them.
Thus, the crypto assets can still be traded through the Binance Wallet interface while Binance Alpha users can access instant sell features directly from their asset dashboard.
Moreover, withdrawals will also remain available, allowing users to transfer tokens to external wallets or other platforms.
Commentators expressed mixed feelings about the move; however, many users showed agreement with Binance's decision to remove the aforementioned cryptocurrencies as they noted that the foundation of most of the assets is questionable.
Dan Burgin
U.Today Editorial Team
