The NFT marketplace operated by Binance has chosen to discontinue support for Bitcoin-based NFTs starting this month due to decreasing market trends. Since April 18, Binance NFT will not allow trading or deposits of Bitcoin NFT collections. Users have been advised to transfer their Bitcoin NFTs out of the marketplace via the Bitcoin network before May 18. The platform will automatically cancel any affected listings on that date. Additionally, support for airdrops, perks, and features connected to Bitcoin NFTs will cease after April 10. The exchange has also addressed Runestone NFTs, mentioning that eligible users have already received the NFTs in their Binance accounts. However, these NFTs must be withdrawn by the following Wednesday to access associated tokens, utilities, or benefits. Binance attributed its decision to streamline its offerings based on market data indicating a significant decline in unique buyers and overall trading volume, despite a brief recovery in the fourth quarter of 2023. The decrease in market activity and criticism of Bitcoin NFTs contributing to network congestion likely influenced Binance's resolution.
Binance Decides to Remove Bitcoin NFT Collections

by Giorgi Kostiuk
2 years ago

Other news
SEC Chair Paul Atkins Calls for Enhanced Regulatory Guidance for Onchain Markets

SEC Chair Paul Atkins emphasizes the need for clearer regulatory frameworks for onchain trading systems and related activities.

Bitcoin Faces Resistance After Recent Upsurge

Bitcoin's recent recovery has hit a significant obstacle, leading to a drop below 80,000.

Market Dynamics Behind Bitcoin's Decline Analyzed

XWIN Research Japan analyzes the internal factors behind Bitcoin's recent decline, attributing it to leverage positioning and profit-taking, rather than external macroeconomic influences.

Ethereum Spot ETFs Face Notable Withdrawals.

US Ethereum spot ETFs experienced significant capital outflows, with over $103 million exiting the funds, leading to a weekly netflow drop to just $66 million.

Bitcoin Price Drops Below $80,000 as Spot ETF Outflows Increase

Bitcoin's price has fallen below $80,000 as significant capital exits from US spot ETFs.

Ethereum's Holder Count Surpasses Bitcoin's by 32 Times

Ethereum's holder count has surpassed Bitcoin's by 32 times, with over 18.9 million non-empty addresses recorded.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter