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Binance announced that it will delist five digital currencies from spot trading on its platform starting at 03:00 UTC on May 27, following a regular review of the extent to which listed projects meet standards for quality, liquidity, and development activity.
As of now, currencies included in the removal decision include:
Automata (ATA), Harvest Finance (FARM), Enzyme (MLN), Phoenix (PHB), Syscoin (SYS).
Binance explained that the decision was made within its ongoing review policy of monitoring its listed digital currencies, stressing that if market and industry conditions change, it may remove any projects that no longer meet the required standards.
Following the decision, all spot trading pairs related to these currencies will be stopped, along with the termination of their trading bot services.
The platform calls on users to update or cancel their trading bot settings before the closure date to avoid any potential losses.
Binance also stated that after May 28, deposits in these five currencies will no longer be credited to user accounts, and withdrawal support for these assets will cease from July 27.
Binance’s delisting decisions typically result in target currencies facing strong selling pressure due to reduced liquidity and lack of access to one of the world’s largest trading platforms, which is often reflected in investor confidence and trading volumes associated with these projects.
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