Binance.US announces the delisting of Tron (TRX) on April 18, 2023, as the cryptocurrency fails to meet the exchange’s strict criteria.
Binance.US declared that it will delist Tron (TRX) as of 18 April 2023 because it does not adhere to the strict criteria of the cryptocurrency exchange.
Binance.From 18 April 2023, the US will remove Tron (TRX) from cryptocurrency exchanges
Binance.A US cryptocurrency exchange has announced that Tron (TRX) will be removed from the system as of 18 April 2023.
The strong criteria of Binance’s US-based platform, notably Binance.US, which routinely reviews the digital assets it provides on its crypto-exchange, appear to no longer apply to Justin Sun’s cryptocurrency.
The official decision to delist TRX was made as a result, and as of tomorrow, April 13, TRX staking will no longer be possible.
The decision to remove Justin Sun’s cryptocurrency Tron (TRX) from Binance.US
Binance.US provided a statement outlining the assessment process and the criteria used to rank products.
Some of the cited factors are listed below:
- adjustments to the risk profile of the token;
- contribution to a stable and long-lasting cryptocurrency ecosystem;
- volume and liquidity of trading;
- position on regulation in the United States;
- evidence of growth and advancement in development activity;
- network resilience changes as a result of external or internal threats;
- network stability and smart contracts;
- degrees of involvement in the community
- proof of unethical, dishonest, or careless behavior.
Although Justin Sun’s cryptocurrency has been delisted, Binance.US has stated that it will still offer Tether (USDT) and USD Coin (USDC) in their TRC-20 versions.
The delisting of the cryptocurrency Spell (SPELL) has also been announced by Binance.US along with Tron (TRX).
TRX price forecasts
Tron (TRX), which has a price of $0.064, is currently ranked 16th by market capitalization.
The price of TRX has generally followed the trends of the other main crypto assets during the last few days. However, it is clear from the data for the previous month how TRX varies above and below $0.066.
Recently, a price forecast for Tron, which expects a potential penalty from its team’s activity, was revealed.
According to the projection, Justin Sun has steadily taken profits even though he has always worked to increase the ecosystem’s prosperity through dApps and on-chain activities on them.
If a cryptocurrency’s developers “cash-out” then reinvest, they don’t plan to destroy the project or its native token.
Despite this, cryptocurrency traders could be hesitant to keep such a lauded and criticized token since they perceive it to be the only source of income for the cryptocurrency’s developers.
However, the TRX chart for the most recent week reveals that the price is in an extremely lengthy zone of accumulation that started in January 2022.
