Cryptocurrency exchange Binance has announced the delisting of NEM (XEM), OMG Network (OMG), and Waves (WAVES). These pairs will not be available for either spot or margin trading.
The exchange is going to remove a total of six trading pairs: WNXM/USDT, XEM/USDT, OMG/USDT, WAVES/BTC, WAVES/ETH, WAVES/TRY, and WAVES/USDT.
The three aforementioned cryptocurrencies recorded double-digit price increases following the announcement.
According to data provided by CoinMarketCap, XEM is down 12.88%. Meanwhile, OMG and WAVES are down 14.51% and 18.17%, respectively, over the past 24 hours.
Alex DovbnyaBinance will ditch these three cryptocurrencies on June 17, according to its Monday announcement. The exchange's users will not be able to deposit the tokens starting from June 18. After Sept. 18, it will not be possible to withdraw these three tokens either. It is worth noting that these tokens might be converted into stablecoins by the exchange, but there is no guarantee that this conversion will take place.
The cryptocurrency giant says that it routinely reviews the cryptocurrencies listed on its platform in order to make sure that they meet industry requirements.
Binance's delisting decisions hinge on a slew of factors such as the current state of development activity, the commitment of the team behind a certain cryptocurrency, the level of liquidity, regulatory requirements, the stability of the network, and so on.
Such delisting decisions are not rare for Binance. As reported by U.Today, it removed six training pairs last month.
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Arman Shirinyan
Vladislav Sopov
Dan Burgin