Binance’s decision to delist Aragon (ANT), Multichain (MULTI), Vai (VAI), and Monero (XMR) stems from concerns over team commitment, development activity, and network stability. Trading for these tokens will cease on February 20th, with withdrawal support available until May 20th. Users are urged to adjust their portfolios accordingly.
Reasons for Delisting
Binance has announced its decision to delist four digital assets from its platform: Aragon (ANT), Multichain (MULTI), Vai (VAI), and Monero (XMR). The decision to delist these tokens comes as a result of several factors, including a lack of team commitment, insufficient development activity, and network instability.
Trading for these tokens will cease on February 20th, with users advised to complete any necessary transactions before this date. Withdrawals of the delisted tokens will continue to be supported until May 20th, allowing users ample time to transfer their holdings to other platforms or wallets.
Need for Self-Custody
It is crucial for users to manage their affected holdings promptly, taking into account the upcoming delisting date and withdrawal deadline. Failure to do so may result in potential loss of access to these assets on the Binance platform.
Otteroooo, the crypto scam hunter on Twitter, in a reaction to the planned delisting said that it is necessary that people focus on self-custody, especially for a popular privacy coin like Monero.
A Commitment to Transparency
Furthermore, the delisting of these tokens will have implications for various Binance services, including Binance Simple Earn, Binance Auto-Invest, Binance Loans, Binance Margin, Binance Futures, Binance Convert, Binance Gift Card, Binance Pay, and Trading Bots. Users utilizing these services should take note of the delisting and adjust their strategies accordingly.
Overall, the delisting of these tokens underscores Binance’s commitment to transparency, sustainable growth, and network stability within its platform. Users are encouraged to stay informed and proactive in managing their digital asset portfolios amidst these changes.