Hot development: Binance exclude these 3 altcoins from the list!

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Binance, the largest cryptocurrency exchange by transaction volume, announced the exclusion of 3 altcoin projects from the list. Thus, the exchange will no longer support these 3 altcoins. So, what are these altcoins? Here are the details…

Binance Stops Supporting Three Altcoins

As we reported on Somagnews, Binance, the largest cryptocurrency exchange, announced today that they are preparing to remove Hegic (HEGIC), renBTC (RENBTC), sUSD (SUSD) coins from the platform on April 11, 2022 at 12:00 Turkish time. When delisting these altcoins, the HEGIC/Binance USD (BUSD), RenBTC/Bitcoin (BTC) and sUSD/Tether (USDT) pairs are deleted. All trading orders will be automatically deleted after the termination of trading for each corresponding trading pair. Only HEGIC seems to have dropped by almost 18 percent after the news of the delisting, as the rest of the coins are tied to certain assets.

Deposits for these tokens made after April 12, 2022 at 03:00 will not be credited to user accounts. However, the withdrawal of coins and tokens from Binance will be supported until 12.07.2022. Binance stated in its announcement: “Cryptocurrency trading involves high market risk. Please do your trades carefully. We would like to point out that Binance is not responsible for your trading losses,” he concludes.

Why does the stock market conduct delisting transactions?

So why does Binance exclude some altcoins or altcoin pairs from the listing? “At Binance, we periodically review every digital asset that we list to ensure that it continues to meet the high standard level that we expect,” the exchange said in a statement about the delisting. When a coin or token no longer meets this standard or the industry changes, we conduct a more thorough analysis and possibly remove it from the list. We believe this best protects all of our users.” It is also known that the following factors are at work when delisting altcoins:

Team commitment to the project

The level and quality of development activities

Trading volume and liquidity

Network stability and protection against attacks

Network Stability/Smart Contract

The level of communication with the public

Respond to periodic due diligence requests

Evidence of unethical/dishonest behavior or negligence.

Contribution to a Healthy and sustainable Crypto Ecosystem