- Binance has announced it would delist BLZ and WRX from its trading platform.
- BLZ and WRX declined significantly following Binance’s delisting announcement.
- The delisting exercise is in line with Binance’s routine.
Binance, the largest crypto exchange by trading volume, has announced it would delist Bluzelle (BLZ) and WazirX (WRX) from its trading platform. In a blog post, the exchange said this delisting is part of its routine process of removing tokens that don’t meet its standards.
According to the update, Binance will delist BLZ and WRX on Christmas Day, December 25, 2024, and remove the BLZ/BTC, BLZ/USDT, and WRX/USDT trading pairs from the platform. Binance’s announcement escalated BLZ’s price decline after the initial days of dropping sharply after a notable rally.
BLZ surged 140% in November during a market rally. But the token fell 38% on December 9. It recovered slightly before resuming its decline. BLZ has lost around 45% of its value in the past week. The Binance news could trigger further decline for the token.
WazirX (WRX) Also Affected
In the meantime, WRX, the utility token of the embattled WazirX cryptocurrency exchange, experienced a significant decline following Binance’s delisting announcement. The cryptocurrency crashed by over 55% shortly after Binance publicized its delisting decision. WRX’s recent decline adds to the pullback from last November’s surge, which saw the crypto token surge nearly 235%. The utility token has lost about 70% of its value from the November high, with increasing bearish pressure threatening to continue suppressing the price.
Binance Delisting Criteria
It is worth noting that Binance regularly reviews the tokens listed on its platform. Reasons for delisting can include the team’s commitment to the project, development activity, trading volume, and network security.
Read also: BLZ, SNT and SUSHI Soar as BTC Profits Give Alts a Boost
The crypto exchange highlighted other factors it used to disqualify BLZ and WRX as tokens that would continue trading on its platform. Binance users have until December 25 to close open BLZ and WRX positions and withdraw their tokens from the platform.
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