Binance today announces to delist ARN, FUEL and LUN as a part of the periodic review process. Soon after the announcement made via the official blog post, ARN, FUEL and LUN price slips by 42%, 19% & 11%.
Binance the world’s largest cryptocurrency exchange by trading volume periodically reviews each digital assets in order to meet high level of standard. Whenever any coin or digital assets no longer meets this standard then Binance potentially delist it in order to protect its users.
Here are some of the points that Binance considers while reviewing any digital assets:-
- Commitment of team to project
- Level and quality of development activity
- Trading volume and liquidity
- Network / smart contract stability
- Level of public communication
- Responsiveness to our periodic due diligence requests
- Evidence of unethical/fraudulent conduct or negligence.
- Contribution to a healthy and sustainable crypto ecosystem
According to Binance, they have decided to delist ARN, FUEL & LUN at 2020/07/20 10:00 AM (UTC). The trading pairs that will be removed are ARN/BTC, ARN/ETH, FUEL/BTC, LUN/BTC.
However withdrawal of these coins from Binance will continue to be supported till 2020/10/20 at 10:00 AM UTC.
At the time of writing this post ARN, FUEL and LUN is trading at 0.00001400 BTC, 0.00000033 BTC and 0.00012660 BTC as per Binance crypto exchange.