Binance Delisting OMG, WAVES, WNXM, and XEM Starting Tomorrow, Here's the Reason!

Bittime - Binance will delist OMG, WAVES, WNXM, and XEM starting tomorrow, June 17 2024. This deletion was carried out after regular reviews carried out by Binance to ensure the quality of the crypto assets they offer.

Why is Binance Delisting OMG, WAVES, WNXM, and XEM?

Binance regularly reviews the crypto assets they offer to ensure they meet standards and keep up with the latest developments in the blockchain industry. Some of the factors considered in this review include:

• The development team's commitment to the project
• Level of development activity
• Trading volume and liquidity
• Network security from attacks
• Network stability and smart contracts
• Openness of information to the public
• Response to Binance request
• Potential for fraudulent activity or negligence
• Latest regulations
• Contribute to a healthy and sustainable crypto ecosystem

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Based on the latest review, Binance decided to delist the four crypto assets. This is because the four cryptocurrencies are considered to no longer meet the criteria mentioned above.

Also read: Polyhedra Network Invites Users to Move Liquidity from zkSync

What Impact Will This Removal Have On Users?

Starting June 17, 2024 at 03:00 WIB, all trading for asset pairs involving OMG, WAVES, WNXM, and XEM will be stopped. Buy and sell orders that are still active will be canceled automatically.

Users are advised to ensure the “Hide Small Balances” setting is off on all their wallets so that the balances of these four crypto assets remain visible.

Deposits for these four crypto assets will no longer be accepted starting June 18 2024 at 03:00 WIB. Meanwhile, withdrawals for the four crypto assets can still be made until September 17 2024 at 03:00 WIB.

Also Read How to Buy Crypto:

After that date, it is possible that Binance will convert the remaining balances of OMG, WAVES, WNXM, and XEM into stablecoins (crypto assets whose value is pegged to other assets such as the US dollar). However, this conversion is not guaranteed and will be announced separately if it occurs.

Binance Remains Committed to Building a Healthy Crypto Ecosystem

Binance stated that this delisting decision was a step towards building a transparent and sustainable crypto ecosystem. They value user support and continue to strive to provide the best service in the crypto asset field.

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How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn Complete Guide How to Buy Crypto on Bittime. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.