Binance Delists 5 Crypto Assets Including IRISnet (IRIS) and Ren (REN)

Binance, one of the leading cryptocurrency exchanges, announced that five crypto assets have been delisted following its latest review.

Binance, a major cryptocurrency exchange, has announced the delisting of five crypto assets after its latest review. The affected tokens are Gifto (GFT), IRISnet (IRIS coin), SelfKey (KEY), OpenANX (OAX), and Ren (REN). Here's a closer look at the details.

Binance delists IRIS coin and four other crypto assets

Binance regularly reviews the listed coins to ensure they continue meeting high standards and industry requirements, the exchange announced. According to the latest announcement, the altcoins that will be delisted are Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OpenANX (OAX), and Ren (REN). Trading of these assets will end on December 10, 2024, at 03:00 UTC, following which there will be restrictions on deposits and withdrawals.

"When a coin or token no longer meets these standards or when the industry situation changes, we conduct a more in-depth review and potentially delist. Our priority is to provide the best services and protections for our users while continuing to adapt to evolving market dynamics," the exchange stated in its announcement.

What's behind the delisting?

The decision to delist these tokens is influenced by several factors, the exchange's statement noted. These include:

- A significant decrease in the altcoin prices.

Trading pairs such as GFT/USDT, IRIS/BTC, and others will be delisted on December 10, 2024. All open orders in these pairs will be canceled. Deposits made for these tokens will not be credited to the account after December 11, 2024. Withdrawals will not be supported after February 12, 2025. The tokens will be converted to stablecoins for users after February 13, 2025, subject to a separate announcement.

The prices of the delisted coins decreased following the development. As a result, coin features and price changes are as follows:

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