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- Binance announced it would delist BTS, PERL, TORN, and WTC on December 7.
- Binance regularly delists tokens that no longer meet required standards or are affected by industry changes.
- The trading pairs to be delisted include BTS/USDT, PERL/USDT, TORN/BUSD, WTC/BTC, and WTC/USDT.
Binance, the largest cryptocurrency exchange by trading volume, announced it would delist four digital assets, BTS, PERL, TORN, and WTC, from its platform on Thursday, December 7, 2023. In a blog post, the top crypto exchange noted that the delisting exercise is part of its regular review process to check that tokens listed on the platform continue to meet required standards.
According to Binance, when a coin or token no longer meets the required standard or the industry changes, it conducts an in-depth review which may result in delisting to protect users. Binance said that it considers several factors to determine if the listed digital assets would remain listed or be removed from its trading platform.
The factors considered by Binance include the commitment of a team towards its project, the level and quality of development activity around the coin or token, the digital asset’s trading volume, and liquidity, its stability and safety of the network from attacks, and the project’s network/smart contract stability.
Binance added that it also considers a project’s level of public communication, its responsiveness to its own periodic due diligence requests, evidence of unethical/fraudulent conduct or negligence, and the project’s contribution to a healthy and sustainable crypto ecosystem before deciding whether to delist it.
In the announcement, Binance noted it would delist and cease trading on all the trading pairs for BitShares (BTS), PERL.eco (PERL), Tornado Cash (TORN), and Waltonchain (WTC). It further clarified that the trading pairs it would remove are BTS/USDT, PERL/USDT, TORN/BUSD, WTC/BTC, and WTC/USDT.
According to Binance, it will automatically remove all trade orders in each trading pair after trading ceases on December 7. Hence, it advised users willing to view their assets after trading ceases to ensure they have not selected “Hide Small Balances” in all of their wallets.
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