Binance Decides to Remove Bitcoin NFT Collections

user avatar

by Giorgi Kostiuk

3 years ago

Made with AI

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 However, these NFTs must be withdrawn by the following Wednesday to access associated tokens, utilities, or benefits.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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

HTX Strengthens Global Compliance and Showcases at TOKEN2049

HTX has made significant strides in global compliance initiatives while participating in TOKEN2049, a major event in the crypto industry held in Singapore.

user avatarDiego Alvarez

SEC Files Charges Against Richard Heart for Fraud

The SEC charged Richard Heart and his entities with conducting unregistered offerings of crypto asset securities.

user avatarMaria Fernandez

HTX Marks 13th Anniversary with Major Celebrations and Trading Events

HTX celebrated its 13th anniversary with major events, including the Anniversary Carnival and Trading Championship 3, highlighting its resilience in the crypto market.

user avatarKenji Takahashi

Richard Heart Arrested in Istanbul on Interpol Charges

Richard Heart, founder of Hex cryptocurrency, was detained in Istanbul under an Interpol Red Notice for aggravated tax fraud.

user avatarGustavo Mendoza

MediaMarkt Saturn Ceases Sales of Ledger Devices Amid Security Concerns

MediaMarkt Saturn has stopped selling Ledger devices due to security concerns following a customer report of a hidden implant.

user avatarRajesh Kumar

Binance Expands into Traditional Finance as Mining Pool Closes

As Binance prepares to shut down its mining pool, the exchange is expanding into traditional finance by providing access to over 7,000 US stocks and ETFs for customers outside the United States.

user avatarMiguel Rodriguez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.