Binance Removes WRX, AKRO, and BLZ: Token Prices Face 40% Crash!
Mustafa Mulla18 Dec 20242 min read
Binance, the world’s largest cryptocurrency exchange with over 250 million users, has made a surprising move—delisting three popular digital assets: WazirX (WRX), Kaon (AKRO), and Bluzelle (BLZ).
This decision, part of Binance’s regular review process, has caused these tokens to take a significant hit, with prices plummeting by 20% to 40%.
Keep reading to find out the details behind Binance’s latest move and its impact on the affected tokens.
Why Were These Tokens Delisted?
Binance regularly reviews its listed tokens based on factors like development activity, trading volume, network stability, and regulatory compliance. After careful evaluation, the exchange decided that WRX, AKRO, and BLZ didn’t meet these standards.
This action emphasizes Binance’s commitment to protecting users and maintaining a healthy crypto ecosystem.
Key Dates for Affected Users
Here are the key dates users need to know:
Trading Pairs Removal: Trading for WRX/USDT, AKRO/USDT, BLZ/BTC, and BLZ/USDT will be delisted on December 25, 2024, at 03:00 (UTC).
Deposits and Withdrawals: Deposits for these tokens will no longer be credited after December 26, 2024, at 03:00 (UTC). Withdrawals will remain available until February 25, 2025, at 03:00 (UTC).
Futures Trading: Binance will settle and close all BLZUSDT futures contracts by December 23, 2024.
Other Services: Services like Binance Margin, Auto-Invest, and Gift Cards will gradually phase out support for these tokens in the coming weeks.
Beware of Price Drops
Following Binance’s announcement to delist these tokens, their prices experienced a sharp decline. India’s leading crypto exchange token, WazirX (WRX), dropped by 40% in just a few hours, now trading around $0.15.
Similarly, Kaon (formerly Akropolis), represented by AKRO, also faced a steep fall, plunging by 25% followed by the BLZ token recording a drop of 24% now trading around $0.10.
What Should Binance Users Do?
Binance has advised users to close any open positions and manage their holdings before the deadlines to avoid issues. As Binance continues to uphold strict listing standards, it is crucial for tokens to meet these criteria to stay listed on the exchange.
As the dust settles on these delistings, traders and investors alike will be watching closely to see how the market responds.
