Friday, September 25, 2020

BTT, WIN and other coins that Binance issued via IEO got delisted from the exchange

The Takeaway:

Binance announces to remove thirty trading pairs from its platform. One-fifth of these include tokens launched by Binance via its IEO. The exchange also delisted Bit Torrent that raised over $7 million in its Initial Exchange Offering in January. ERD, ONE and WIN were other coins that were issued via IEO on Binance that got delisted.

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Recently Binance announced to delist thirty trading pairs from its platform and one-fifth of the coins include that were launched through the company’s IEO. Bit Torrent which was launched by Tron earlier this year and was Binance’s first IEO also got delisted. The China-based exchange had sold 23.76 billion BTT tokens in the first fifteen minutes during its IEO and raised over $7 million. 

Binance decided to remove thirty trading pairs to improve liquidity and user trading experience as requested by most project teams. When a token does not have enough trading volume, it becomes vulnerable to pump and dump schemes. Coins that were launched through Binance IEO that got delisted are BTT, Elrond(ERD), Harmony (ONE), and WINk (WIN). 

Thirty pairs that got delisted include:

ANKR/PAX, ANKR/TUSD, ANKR/USDC, BCPT/PAX, BCPT/TUSD, BCPT/USDC, BTT/BTC, DENT/BTC, DOGE/PAX, DOGE/USDC, ERD/PAX, ERD/USDC, FTM/PAX, FTM/TUSD, FUEL/ETH, GTO/PAX, GTO/TUSD, GTO/USDC, LUN/ETH, NCASH/BNB, NPXS/BTC, ONE/PAX, ONE/TUSD, PHB/PAX, PHB/USDC, TFUEL/PAX, TFUEL/TUSD, TFUEL/USDC, WAVES/PAX, WIN/BTC.

Wink and Harmony tokens were issued in Initial Exchange Offering by Binance in July of this year. Delsiteing coins that were issued through IEO by Binance can harm the image of the exchange. On the other hand, Binance’s competitor OKEx so far has not delisted a single coin that was sold via its IEO platform. 

Let us know in comments what to do you think of the exchange’s decision to delist these tokens?

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Glenn Harper
Glenn Harper
Glenn has only two interests: Bitcoin and Aviation. After completing his graduation from San Diego State University in 2006, Glenn started working in the airlines and aviation industry. Aviation was his only passion before he came to know about bitcoin in 2012 after which he decided to dedicate 8 hours of his day for aviation and 8 hours for learning and writing about bitcoin and the technology behind it. Glenn lives with his wife and a 7-year-old son who mines ethereum on his computer and is also quite passionate about cryptocurrencies.

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