Binance to Delist OMG, WAVES, WNXM, and XEM on June 17
Binance, one of the world’s leading cryptocurrency exchanges, today announced the delisting of four altcoins, which include OMISEGO (OMG), WAVES (WAVES), WRAPPED NXM (WNXM), and NEM (XEM), by June 17 from its platform.
#Binance will delist $OMG, $WAVES, $WNXM, and $XEM on June 17, 2024.
— Binance (@binance) June 3, 2024
More details here ⤵️https://t.co/u5r7gtOjMN
Binance shared an announcement in a post via its website and on social media that OMG/USDT, WAVES/BTC, WAVES/ETH, WAVES/TRY, WAVES/USDT, WNXM/USDT, and XEM/USDT are the specific trading pairs that are being removed.
According to the announcement, all spot trading pairs will be terminated on May 17 at 03:00 (UTC) because the affected tokens are no longer eligible. Moreover, all trade orders involving these tokens will be automatically removed after the deadline. Token deposits will not be credited after June 18, 2024, and withdrawals of these assets will not be supported after September 17, 2024.
Users of Binance who still possess the delisted tokens by September 18 may be eligible for an automatic conversion into stablecoins, though this is not guaranteed. When this occurs, users will receive a separate notification from Binance before the conversion is completed, if applicable. Following conversion, the stablecoin will be credited to eligible user accounts.
Furthermore, on June 13 at 03:00 (UTC), the aforementioned tokens will be delisted from the Binance Simple Earn service. Users can, however, use their Flexible and Locked Product positions prior to this time. In the event that this isn't done, users' spot wallets will receive the automatic redemption of the locked and flexible products at the time of cessation. This will also have implications for other services as well, such as Binance Auto Invest, Binance Loans, and Binance Futures.
Binance's announcement today that it would delist the following altcoins has sent ripples through the crypto community, raising concerns about the stability and future of these tokens. The price of each token is also falling shortly after the announcement. The token Waves suffered more setbacks before this most recent delisting. In February, Binance.US delisted the token, and it was also removed from Korean exchanges Upbit and Bithumb because of problems with its associated stablecoin, Neutrino USD (USDN), which lost its peg to the US dollar.
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