According to him, TRX’s trading volume on Binance US has never exceeded $1 million per day, while the total trading volume of the token is $400 million. Similarly, the Spell token fell about 6%, according to data from CoinMarketCap.Īlthough the Binance US decision had a negative impact on the price of TRX and Spell, Tron’s boss, Justin Sun, does not seem to care too much. Binance delists TRX and SPELL, immediate impact on market prices!Īfter the announcement of Binance US on Twitter last Wednesday, the price of the token TRX fell nearly 5 percent, hitting a low of $0.062 from $0.067 previously. However, the company reassured users that it will continue to support TRC-20 USDT and USDC issued on the TRON network. From the Binance US press releaseīinance has promised to disable TRX staking as of this Thursday and remove the token page the following day. When a digital asset no longer meets our high standards, or industry circumstances change, we conduct a more thorough review of the affected asset and assess whether further action is necessary. The American branch of Binance reported that the decision to remove TRX and SPELL was made as part of a periodic review, during which the company considered several aspects, including:įactors influencing Binance.US’s decision include regulatory status in the United States and unethical behavior. (□1/2) /EJCzM9xZdN- Binance.US Customer Support April 12, 2023 The two tokens will be withdrawn on Tuesday, April 18but withdrawals will still be possible after this date, unlike exchanges and deposits which will be stopped.Īt #BinanceUS, we periodically review each digital asset listed to ensure that it continues to meet the standard of excellence we expect.īased on our recent review, Spell (SPELL) & TRON (TRX) will be delisted from the platform on April 18, 2023. This Wednesday, Binance.US just announced the delisting of TRX and SPELL, the token of the Abracadabra Money ecosystem. The regulators accused him of selling unregistered securities and manipulating the market with the TRX.īut the trouble doesn’t end there for TRON. TRX and SPELL excluded from Binance US, the consequences of regulatory pressureįor the past days, Justin Sun, the founder of Tron, is in the crosshairs of the Securities and Exchange Commission of the United States. An announcement that has already had a noticeable impact on the price of the token. The decision is motivated by several factors, including the regulatory status in the United States and will take effect on April 18. Binance US, the US subsidiary of the world’s largest cryptocurrency exchange, has announced the upcoming removal of the TRX token from its trading platform. It is down 1.7% over 24 hours, while the crypto market is down 0.3%.As TRON takes a beating from US regulators, another blow has hit the network. MATIC is the 14th largest cryptocurrency by market cap, with a total supply worth $5.05 billion. Binance is a major exchange for MATIC trading: it handled at least $37 million of MATIC’s $181 million trading volume over a 24-hour period on Sept. There is no indication that Binance intends to delist Polygon’s MATIC token from its main exchange. Polygon (MATIC) will remain listed on Binance The company added support for Bitcoin Ordinals in May. As such, each feature was very short-lived and available to customers for six months or less.īinance’s NFT marketplace currently supports three other networks: Ethereum, BNB Chain, and Bitcoin. It added support for Polygon-based NFTs more recently on March 8, 2023, and it introduced its Sandbox staking program just over one month later on April 28, 2023. It did not comment on whether trading volumes or user demand affected its decision to end those services.īinance introduced its NFT marketplace in April 2021. 28, and the final staking rewards will be distributed that same day.īinance said that the service reduction is the result of “consideration and evaluation” and part of its attempts to “streamline” its services. Those tokens will be sent back to users’ Binance accounts on Sept. ![]() 26, and Binance will automatically unstack users’ LAND NFTs on Sept. 28.īinance also said it would discontinue its Sandbox NFT Staking Program, which previously allowed users to stake LAND tokens and earn SAND rewards in connection with a popular Polygon-based metaverse game, The Sandbox. It added that Polygon NFTs will be returned to user accounts after Sept. 26 and that all listings will be canceled that day. It said that users will not be able to buy Polygon NFTs after Sept. The company asked users to withdraw Polygon NFTs by Dec. 9 and for all Polygon-based NFTs on Sept. Leading crypto exchange Binance said that it will end support for features related to non-fungible tokens (NFTs) on Sept.
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