Binance will delist four cryptocurrencies
The crypto exchange will exclude MITH, TRIBE, REP and BTCST tokens because they no longer meet its "high level of standards"
Binance will delist the MITH, TRIBE, REP and BTCST cryptocurrencies. The platform announced that based on its recent checks on digital assets, it has decided to exclude these tokens from its platform and stop trading them in all trading pairs at 12:00 a.m. Moscow time on December 22.
Binance periodically reviews each asset listed on its platform to ensure that it continues to meet its "high level of standards," it said in a statement. According to the exchange, removing coins or tokens that no longer meet those standards protects users.
The Mithril token (MITH) is used as a reward for content creation, as well as to pay for various services in Mithril's decentralized social media ecosystem on the Ethereum blockchain. After Binance announced its delisting, the cryptocurrency fell 35%.
Tribe (TRIBE) is the DeFi control token of the Fei protocol, which supports the FEI stablecoin. The exchange rate of the token fell by 7.5% after the announcement of its exclusion from Binance.
Augur (REP) is the token of the decentralized oracle and forecasting platform Augur on the Ethereum blockchain. The price of the token barely reacted to the Binance announcement, with the cryptocurrency down 3% in the past 24 hours.
Bitcoin Standard Hashrate Token (BTCST) is the platform's own BEP-20 service token, launched earlier by Binance. Owning BTCST is equivalent to owning mining capacity. Placing BTCST on the network entitles users to be rewarded for mining in bitcoins. The token has fallen 44.7% since the delisting announcement.
From December 22, the platform will stop trading in pairs: MITH / USDT, TRIBE / BUSD, REP / USDT and BTCST / BUSD. All orders will be automatically deleted after the trading stops.
From December 16, the platform will stop using these tokens as borrowed and pledged assets. Deposits of these tokens will not be credited from December 23, withdrawals of these cryptocurrencies from Binance will be supported until March 23, 2023.