Binance Delists GFT, IRIS, OAX, and Other Tokens: What You Need to Know
In a significant move, Binance, the world’s largest cryptocurrency exchange, has announced the delisting of five tokens: Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX, and Ren (REN). The delisting will take effect on December 10, 2024, with trading pairs such as GFT/USDT, IRIS/USDT, OAX/BTC, and others set to be removed.
Why Did Binance Delist These Tokens? Binance periodically reviews its listed assets to ensure they meet the exchange's high standards. According to Binance, the delisting decision was based on several factors, including:
Low Trading Volume: A decline in trading activity and liquidity often signals reduced user interest and adoption. For instance, OAX’s trading volume fell dramatically, from $101 million in March to $468,000 by October
Compliance and Development Issues: Binance evaluates projects for their commitment to development, team responsiveness, and updates. Community members of Gifto (GFT) expressed frustration over a lack of project updates, hinting at management issues
Market Adaptation: The crypto landscape evolves rapidly, and assets failing to keep up with market or regulatory changes may no longer align with Binance's listing criteria
Impact on the Tokens The announcement led to significant price drops across the delisted tokens:
Gifto (GFT): Dropped by 32%. IRISnet (IRIS): Fell by 36%. OAX: Decreased by 31%. Other tokens such as SelfKey and Ren also experienced losses
User Actions Required Binance has advised users to:
Close Open Positions: Ensure margin trades are settled before margin trading closes. Withdraw Assets: Transfer tokens to personal wallets before withdrawal services end in early 2025. Cancel Automated Orders: Trading bots and automated systems tied to these tokens must be disabled to avoid losses. Broader Implications The delisting highlights the risks of investing in low-liquidity or underperforming altcoins. It also emphasizes Binance's intent to focus on high-quality and liquid assets to maintain its market leadership and user trust. #DelistingNotice #IRIS #GFT! #OAX $GFT
well... after that sh** move of $NOT probably will be my EXIT from crypto... is not f* normal that s**t coin after launch get so much hype and move only from 1 direction... for 7 days 0 corrections... i lose my half portfolio from 1 F*ing trade. i spend so much time to build it and it cost me so much....
NOT IS THE TRADER KILLER !
fk that s*it i will go to stocks... ~
if someone is more lucky then me and win from that coin, feel free to support my emotional damage with any donation :P my userid : 383748283
The last 24 hours were brutal for the crypto market as BTC crashed below $60k while alts crashed 30%–50%.
The primary reason behind this crash was the Iran drone attack on Israel.
During a war, commodities like oil and gold rise in value, which results in high inflation.
High inflation means no rate cuts, which is bearish for stocks and crypto.
This is why crypto sold off heavily yesterday, as people anticipated that this war could lead to high inflation, which would result in no rate cuts.
Once BTC and alts started crashing, those who had high leverage positions open started getting liquidated, which resulted in more forced selling.
Something similar happened during Covid in March 2020, Russia Ukraine war when the market panic sold and then rebounded within a month
As per some media sites, Iran already made their allies aware in advance
This means that the cartel were already ready for this dump
They just waited till the weekend as there was low volume and then crashed the market
After market started panic selling, they bought the dip as usual which resulted in a quick bounce
The lesson here is to avoid leveraged trades and keep your portfolio in spot. This is the best way to maximize your gains while keeping your risks to a minimum.
Right now, BTC is trading above $63k with a strong support at $60k level
If $60k level don't hold, there is a strong support level at $56k - $58k where most of the new whales (ETF buyers) have bought their BTC
Keep in mind that after every black swan event, the crypto market has witnessed parabolic runs and the same will happen this time too
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Well... Back in 2012 when I was a teenager I had this website that for some reason got a lot of traffic.. ever since then I have been thinking how can I make money online. and i took out.. i used the coinurl platform as an ad-campaign platform in exchange for btc, btc was then 20$ i know.. crazy.. so far so good until i decided to format my computer and unfortunately i didn't keep the .dat file (as a wallet backup) from the Bitcoin Core program. until today I thought that I had just lost that wa
# Well... back in 2012 when I was a teenager I had this website that for some reason got a lot of traffic.. ever since then I have been thinking how can I make money online. and i took out.. i used the coinurl platform as an ad-campaign platform in exchange for btc, btc was then 20$ i know.. crazy.. so far so good until i decided to format my computer and unfortunately i didn't keep the .dat file (as a wallet backup) from the Bitcoin Core program. until today I thought that I had just lost that wallet and that I was simply not meant to get a share of the pie.. a few days ago I found a txt file with "btc private key: 2fs....." until now I have not been able to open that old wallet...