Crypto alternate Binance introduced right this moment that it’ll delist and stop buying and selling for six cryptocurrencies:
- PowerPool (CVP): A decentralized liquidity protocol for yield farming.
- Ellipsis (EPX): A decentralized alternate targeted on stablecoin buying and selling.
- ForTube (FOR): A decentralized lending platform.
- Loom Network (LOOM): A platform for constructing scalable dApps.
- Reef (REEF): A DeFi platform targeted on interoperability.
- VGX Token (VGX): The native token of the Voyager Digital platform.
The decision follows Binance’s newest evaluation of those belongings and can take impact on August 26, 2024, at 03:00 (UTC).
According to Binance’s announcement, buying and selling on all spot buying and selling pairs for the affected tokens will stop on the specified time. Users holding these tokens are suggested to handle their positions and take into account withdrawing the affected belongings from the platform.
Details on the Delisted Cryptocurrencies:
- PowerPool (CVP): PowerPool is a protocol targeted on managing governance tokens, enabling customers to lend, borrow, and vote with governance tokens from numerous decentralized finance (DeFi) protocols. Following the delisting announcement, CVP has seen a worth decline of 30%.
- Ellipsis (EPX): Ellipsis is a decentralized alternate constructed on the Binance Smart Chain, designed to supply stablecoin swapping with minimal slippage. The announcement has triggered a 22% drop in EPX’s worth.
- ForTube (FOR): ForTube, also referred to as The Force Protocol, is a DeFi lending platform that helps cross-chain operations. The token skilled a 22% lower in worth after the delisting information.
- Loom Network (LOOM): Loom Network is a platform-as-a-service designed to run decentralized purposes (DApps) with improved scalability. LOOM’s worth dropped by 12% following Binance’s announcement.
- Reef (REEF): Reef is a multi-chain sensible yield engine and liquidity aggregator designed to make DeFi providers accessible. The worth of REEF fell by 25% after the delisting was made public.
- VGX Token (VGX): VGX is the native token of the Voyager platform, a crypto dealer that gives buying and selling, curiosity incomes, and lending providers. VGX’s worth decreased by 23% in response to the delisting.
This delisting choice is a part of Binance’s ongoing efforts to make sure the safety, stability, and compliance of its platform. Users are inspired to remain knowledgeable about additional developments and handle their investments accordingly.
