Cryptocurrency exchange Binance has announced the rebranding of Ethernity Chain’s ERN tokens to EPIC. Let's examine the details of the exchange and market reaction.
Token Exchange Schedule and Service Changes
In an official announcement dated February 28, Binance stated that all trading pairs for ERN tokens will be removed on March 10 at 03:00 UTC. Withdrawal operations for the tokens will be suspended starting at 03:30 UTC on the same day. Deposits for the new EPIC tokens will begin on March 13 at 07:00 UTC, while the EPIC/USDT trading pair will start trading on the same day at 08:00 UTC.
Additionally, Binance has revealed that as of March 6, ERN tokens will be removed from margin trading. On the same date, flexible rate and VIP lending services will be terminated. The Simple Earn service will be disabled on March 7. These regulations may also impact automated trading bots and copy trading services.
Market Response and Price Movements
Following Binance’s announcement, there was a sudden spike in the price of ERN tokens. The token value increased by 31% within 24 hours, reaching $1.67. During this period, trading volume surged by 514%, showing significant momentum.
The cryptocurrency market has responded positively to Ethernity Chain’s token exchange. Users view this transition as a favorable step for the project’s future. Binance’s support for large token exchange processes is seen as a notable example of the platform’s impact on the market.
Implications for Users
With this announcement from Binance, updates to other trading services on the platform are also expected. Users should monitor upcoming changes to stay informed about their account statuses.
The rebranding of Ethernity Chain tokens initiated by Binance has attracted significant attention and elicited a positive response in the market. Users should stay abreast of the latest changes to prepare for the new conditions.
