Binance recently declared the delisting of four digital assets: OmiseGO (OMG), Waves (WAVES), Wrapped NXM (WNXM), and NEM (XEM). This step, unveiled on June 3, 2024, has influenced these tokens, resulting in price devaluations and heightened discussions across social media platforms.

Ongoing Evaluation Process and Stricter Criteria

Binance regularly evaluates each listed digital asset to ensure alignment with its elevated standards and industry prerequisites. If a currency fails to meet these criteria or market conditions evolve significantly, Binance initiates a thorough review that could ultimately lead to delisting.

The platform remains committed to providing optimal services and safeguards for users while staying adaptable to market shifts.

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Key Considerations in Delisting Decisions

Binance evaluates a spectrum of factors during these reviews, including team commitment, development activity quality, trading volume, network stability, communication levels, regulatory adherence, and contributions to a thriving crypto ecosystem.

Trading Pair Adjustments and Timelines

On June 17, 2024, at 03:00 (UTC), the following trading pairs will be discontinued: - OMG/USDT - WAVES/BTC, WAVES/ETH, WAVES/TRY, WAVES/USDT - WNXM/USDT - XEM/USDT

Once trading halts for each pair, trade orders will be automatically removed. Any token deposits after June 18, 2024, at 03:00 (UTC) will not be processed, and Binance will cease supporting token withdrawals after September 17, 2024, at 03:00 (UTC).

The delisting news promptly impacted the prices of the affected tokens. Current data indicates reductions of 9.42% for OmiseGo (OMG), 10.82% for Waves (WAVES), 1.30% for Wrapped NXM (WNXM), and 7.49% for NEM (XEM) within the last 24 hours.

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