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Binance, a leading cryptocurrency exchange, announced that it has removed several spot trading pair from its platform. Binance has announced that the decision is part of its periodic review aimed at maintaining high-quality trading environments.

Details about the Delisting

These trading pairs are ACE/BNB (ACE/BNB), DOT/TUSD (DOT/TUSD), MAGIC/FDUSD (MAGIC/FDUSD), MEME/BNB (MEME/BNB), SAND/BNB and XAI/TUSD. These pairs will stop trading at 03.00 (UTC) on June 7, 2024. Binance cited low trading volumes and poor liquidity as the reasons for delisting.

Impact on Users

It is advised that users who are engaged in spot-trading with the pairs mentioned above take any necessary action. Binance will terminate Spot Trading Bots for these pairs at the same time and date. Spot Trading Bots users are encouraged to update their bots or cancel them to avoid potential losses.

Additional Notes

Binance has stated that the translated versions of their original announcement may contain discrepancies. The most accurate information is found in the English version. The exchange reserves the right at any time to modify or cancel this announcement without prior notice.

Related Developments

This delisting is in line with a recent trend of major exchanges that periodically evaluate and optimize their trading pair for improved market efficiency. Binance removed similar trading pairs earlier this year. These actions are part a larger initiative to provide a safe and efficient trading environment.

Binance has the original announcement for more details.

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Binance, the world's largest cryptocurrency exchange, announced that it has delisted several tokens in a move to maintain high standards and ensure industry compliance. Binance has announced that the tokens XEM, WNXM and XEM won't be traded on their platform after June 17, 2024.

Delisting Criteria

Binance reviews its digital assets periodically to ensure that they meet industry standards and requirements. Delisting a coin or token is influenced by several factors, including:

• The commitment of the project team
• The level and quality of the development activity
• Trading volume and liquidity
• Stability and safety of networks
• Communication and public response
• Compliance with regulatory requirements
• Contribution to the development of a sustainable and healthy crypto ecosystem

Binance uses these comprehensive reviews to maintain the integrity and safety of its trading environment.

Important Dates & Actions

Delisting will affect many trading pairs including OMG/USDT. WAVES/BTC. WAVES/ETH. WAVES/TRY. WAVES/USDT. WNXM/USDT. and XEM/USDT. The following dates and actions are important for users to note:

• After the trading halts at 03.00 (UTC) on June 17, 2024 all trade orders will automatically be removed.
• The deposits of these tokens won't be credited to your account after June 18, 2024 at 03:00 UTC.
• After September 17, 2024 at 03.00 (UTC), withdrawals of these tokens are not supported.

Also, Binance will be affected by several services:

• After June 13, 2024, Binance simple Earn: tokens will be removed from the list. It is recommended that users redeem their positions prior to this date.
• Binance auto-invest: The delisting of the product will take place after June 7, 2024. Users should adapt their plans in order to avoid failures during recurring cycles.
• Binance loans: Outstanding positions on loan will be closed by June 11, 2024 at 3:00 UTC. To avoid possible losses, users should repay their loans.
• Binance futures: The leverage and margin tiers of the WAVESUSDT permanent contract will be adjusted by June 3, 2024. All positions will also be closed on or before June 11, 2024.

Market Dynamics and Industry Impact

This announcement is made against a background of increased regulatory scrutiny and changing market dynamics in the cryptocurrency industry. Binance has a strategy of adapting to the changes in the market and maintaining its quality listings. This includes delisting tokens which do not meet its stringent standards.

In the past few months, other exchanges made similar moves that focused on user protection and compliance. This trend shows a growing focus on market stability and regulatory compliance across the entire crypto industry.

Look Forward

Binance reiterates their commitment to provide a safe trading environment, and to adapt to the changing market landscape. The exchange encourages users to keep up-to-date on such changes in order to effectively manage their investments. Binance is continuing to improve the sustainability and transparency of its ecosystem.

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Users are looking for efficient ways to manage digital assets across platforms as the NFT market grows. Immutable.com has released a guide to help users transfer their NFTs to Immutable Passport from MetaMask.

Prerequisites to NFT Transfer

Users need to have the following in order to successfully transfer NFTs between MetaMask and Immutable Passport:

1. Sign up for an Immutable passport account.
2. The MetaMask wallet where the NFTs will be stored.
3. To cover gas costs, use $IMX tokens in MetaMask on zkEVM (tutorial for obtaining $IMX).

Important: Make sure you have enough $IMX to cover gas charges before initiating the transaction.

The Step-by-Step Process of Transfer

Step 1: Access Immutable Passport

First, navigate to the Immutable Passport website (https://passport.immutable.com/).

Link MetaMask wallet

Import your MetaMask wallet items into your Immutable Passport by linking your MetaMask wallet with your Immutable Passport.

Step 3: Select the NFTs to Import

Your inventory will appear automatically after linking. Select the collection or specific items that you want to import.

Step 4: Confirm Import

Sign the transaction by selecting 'Import Item' in your wallet. You will need enough $IMX to cover the gas costs.

Your NFTs are successfully transferred into your Immutable Passport once the transaction has been confirmed.

A Smooth Transfer

Follow the steps to ensure that you have a smooth experience. Refer to Immutable's official tutorial for more information on how to obtain $IMX tokens in exchange for gas charges.

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