BINANCE, one of the largest cryptocurrency exchanges, is set to delist 15 cryptocurrencies, including well-known tokens like Symbol (XYM) and Monero (XMR).
Find out what this means for your investments and how you can prepare for the upcoming changes.
Cryptocurrencies to be Delisted
On August 12, 2024, cryptocurrency exchange BINANCE announced that it will delist 15 cryptocurrencies and convert the affected tokens into USDC.
The following 15 cryptocurrencies will be delisted, including popular tokens like Symbol (XYM), Monero (XMR), and Sologenic (SOLO):
- Bitcoin Gold (BTG)
- Bitcoin Standard Hashrate Token (BTCST)
- Bitshares (BTS)
- District0x (DNT)
- Groestlcoin (GRS)
- Hegic (HEGIC)
- MobileCoin (MOB)
- Monero (XMR)
- Monetha (MTH)
- Multichain (MULTI)
- Navcoin (NAV)
- Sologenic (SOLO)
- Spartan Protocol (SPARTA)
- Symbol (XYM)
- Tribe (TRIBE)
Conversion to USDC
The delisted cryptocurrencies will be converted to USDC based on the holdings as of 00:00 UTC on September 2, 2024. The converted USDC will be credited to users' wallets by March 1, 2025, at 23:59 UTC.
BINANCE users can withdraw these cryptocurrencies until 23:59 UTC on September 1, 2024. After this period, the tokens will be automatically converted to USDC.
Since this announcement was made by the global version of BINANCE, there is a possibility that the delisting could lead to increased sell-offs of the affected cryptocurrencies. Users are advised to stay vigilant.
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