Binance plans to set up 14 tokens of his platform on April 16 in a decision designed to serve low quality projects that do not adhere to the tighter registration requirements of Crypto Exchange.
The tokens are being canceled following a “complete evaluation of several factors”, in particular the first results of “voting for radiation” of the exchange, where the members of the community appointed projects with metrics less than Stellar, announced Binance on April 8.
Other factors included the team’s commitment to the project, development activity, negotiation volume and liquidity, network stability, reactivity to reasonable diligence requests from Binance and new regulatory requirements.
The Tokens Selected for Delisting Are Badger (Badger), Balancer (Bal), Beta Finance (Beta), Cream Finance (Cream), Cortex (CTXF), Aaelf (Elf), Firo (Firo), Kava Lend (Hard), Nulls (draw), Prosper (Pros), Status (SNT), Troy (Troy), Unilend (UFT) AND VIDT DAO (VIDT).
Source: Binance
Binance has tightened its registration requirements in the past year to try to stimulate investor protections. In March 2024, the company extended its so -called “cliff period” – or the duration of the tokens listed cannot be sold – at least a year, according to Bloomberg.
In relation: The co-founder of Binance clarifies the asset quotation policies, dissipates Fud
As tokens proliferate, listing requirements are tightening in all areas
Binance is not the only exchange of cryptocurrency to tighten its registration requirements in an increased regulatory examination. Last October, Bitget announced a overhaul of its token registration process, prioritizing factors such as fully diluted assessment, investor locking periods and project business plans.
In South Korea, crypto exchanges have also strengthened their registration requirements due to new regulations, which included limitations on chips that have been exchanged at national level for less than two years.
Strict registration requirements are also necessary to eliminate the flow of new tokens that hit the market every day.
Following the same mania, platforms like CoinmarketCap follow an amazement of 13.24 million cryptocurrencies. The actual number of cryptocurrencies far exceeds this level.
Some analysts have argued that the excess offer of the tokens explains in part why the long -awaited “Altsason” has never really removed this cycle.
The increase in the number of cryptocurrencies may have diluted the Alts-season. Source: Ali Martinez
“Today, there are more than 36.4 million altcoins, against less than 3,000 during the 2017-2018 Alt season and even less than 500 altcoins in 2013-2014,” wrote Crypto Ali Martinez analyst on social networks.
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