Here Are The Coins Binance Removed in 2022: What Happened?
Want to know which cryptocurrencies Binance delisted in 2022? You're in the right place. Binance, one of the world's leading cryptocurrency exchanges, periodically reviews the assets listed on its platform to ensure they meet specific standards and contribute to a healthy ecosystem. When a cryptocurrency fails the standards outlined, Binance has the right to remove it from its exchange. But why does Binance remove coins?
Why Binance Delists Coins
Binance has the right to withdraw a coin from its exchange if it fails to meet the mentioned conditions. These conditions often relate to factors like trading volume, development activity, network stability, and regulatory compliance. If a cryptocurrency fails to adhere to the norms listed, Binance may delist that particular cryptocurrency from its exchange. While Binance is delisting coins, there's always potential for new listings, but maintaining quality and security is paramount.
Coins Delisted by Binance in 2022
Below are some of the coins that were removed by the exchange in 2022, along with a discussion of potential reasons for their removal. In the latest update provided by Binance in one of its blog posts, the cryptocurrencies that were delisted have been mentioned. The exact trading pairs being removed are: HEGIC/BUSD, RENBTC/BTC and SUSD/USDT.
Based on our most recent reviews, we have decided to delist and cease trading on all trading pairs for the following tokens at (UTC):
- HEGIC/BUSD: (Potential reason: Low trading volume, project development inactivity)
- RENBTC/BTC: (Potential reason: Security concerns, lack of updates)
- SUSD/USDT: (Potential reason: Liquidity issues, potential vulnerabilities)
All trade orders will be automatically removed after trading ceases in each of these pairs. Users holding these tokens were advised to withdraw them from Binance before the specified deadline to avoid any issues.
What Happens After Delisting?
When a cryptocurrency is delisted, trading for that asset ceases on the exchange. It's crucial for users holding the delisted token to withdraw it to a private wallet or another exchange that supports the coin before the withdrawal deadline. Failure to do so could result in the loss of those funds.
This information is intended for informational purposes only and does not constitute financial advice. Always conduct thorough research before investing in any cryptocurrency.