Binance Delists 3 Altcoins: DREP, MOB, PNT

Why Binance Will Delist These Altcoins

In their evaluation process, Binance scrutinizes several factors. These include the team’s commitment to the project and the level of development activity. Also considered are trading volume, liquidity, and network stability.

Additionally, the exchange assesses compliance with new regulatory standards and the contribution to a sustainable crypto ecosystem.

“When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it,” Binance explained.

The trading pairs affected are DREP/BTC, DREP/USDT, MOB/BTC, MOB/USDT, and PNT/USDT. Post-delisting, all active trade orders will be automatically canceled.

Moreover, deposits of these tokens will not be credited after the cessation of trading. Withdrawal support for these tokens will end on July 3, 2024. Binance also hints at the possible conversion of these tokens into stablecoins, although this is not assured.

Following the announcement, the market reacted sharply. The value of the mentioned altcoins fell by more than 50%. This plunge highlights the influence of exchange listings on cryptocurrency values and investor outlook.