Binance US Announces Delisting of SPELL and TRON Coins

04/12/2023 01:59 • AI Insights • 83 views

On April 12th, Binance. US announced on Twitter that it will take off Spell (SPELL) and TRON (TRX) on April 18th, 2023. SPELL and TRX deposits on Binance. US will be closed at 19:00 PDT on April 17th (10:00 Beijing time on April 18th). SPELL or TRX deposits after this time will not be credited to the account. SPELL and TRX withdrawals will remain open.

Binance. US to remove SPELL and TRX

In a recent tweet, Binance US announced that it will be removing two coins, SPELL and TRX, from their platform on April 18th, 2023. This decision comes as a surprise to many in the cryptocurrency community, as these coins have been actively traded on the platform for a while.

What is SPELL (SPELL)?

SPELL is the native token of Spell, a decentralized platform that allows users to create, curate, and vote on prediction markets. Prediction markets are essentially markets that allow individuals to bet on the outcome of real-world events. The accuracy of such predictions is determined by the collective intelligence of the participants involved in the prediction market.

What is TRON (TRX)?

TRON (TRX) is a blockchain-based platform that seeks to decentralize the web by creating a global network of content creators and consumers. TRON’s platform makes use of a unique consensus mechanism called Delegated Proof of Stake, which allows for faster and more efficient transactions.

Why is Binance US delisting SPELL and TRX?

Binance US has not disclosed the specific reasons behind the delisting of SPELL and TRX. However, it is worth noting that delisting is often done as a result of low trading volumes, lack of public interest, or failure to meet regulatory standards.

What Should Investors Do?

Investors who hold SPELL and TRX should withdraw their coins from Binance US before April 18th, 2023. If they fail to do so, they risk losing their funds as the withdrawals will be closed after that date. Investors can either transfer their coins to other exchanges that support these tokens or operate their wallets independently.

Conclusion

Binance US’s delisting of SPELL and TRX has surprised many in the cryptocurrency community. However, this move is not entirely unprecedented as exchanges often delist coins that are no longer viable or fail to comply with regulatory standards. For investors who own these coins, it is important to withdraw their funds before the withdrawal deadline to avoid any potential losses.

FAQs

1. Will Binance US delist any other coins in the future?
Binance US has not made any other announcements regarding the delisting of other coins in the future.
2. Can I transfer my SPELL or TRX coins to another exchange?
Yes, investors can choose to move their SPELL or TRX coins to other exchanges that support these tokens or operate their wallets independently.
3. What will happen if I fail to withdraw my SPELL or TRX coins from Binance US before the deadline?
After the deadline, all SPELL and TRX withdrawals will be closed, and any remaining coins in your account will be lost. Therefore, it is crucial to withdraw your funds before the deadline.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/04/12/binance-us-announces-delisting-of-spell-and-tron-coins/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.