Binance, the world’s largest cryptocurrency trade, introduced that it’s delisting Beam (BEAM), sending its value into freefall.
BEAM is down 30% over the past 24 hours, based on CoinMarketCap information.
The cryptocurrency buying and selling platform mentioned that the BEAM token failed to satisfy the excessive requirements it expects from digital property listed on its platform.
Throughout the overview, varied standards such because the dedication of the group to the mission, stage and high quality of improvement in addition to buying and selling quantity and liquidity have been considered.
Binance will stop buying and selling on all BEAM/USDT buying and selling pairs right now at 09:00 UTC and take away all commerce orders in every respective pair.
Furthermore, deposits will droop from Jan. 27 01:00 UTC whereas withdrawals will proceed till Apr. 27 01:00 UTC.
Moreover, Binance Present Card and Binance Pay can even take steps to delist BEAM tokens on the respective dates talked about above.
The information brought about fast shockwaves, with merchants franticly liquidating positions earlier than costs might crash additional.
Beam (BEAM) is a privacy-focused cryptocurrency that makes use of the MimbleWimble protocol. Developed and launched in 2019, it seeks to allow safe, nameless, and untraceable transactions via a mix of superior applied sciences.
Regardless of making waves in 2019, the Harry Potter-inspired failed to achieve vital traction, presently sitting simply in 691st place by market cap.
Binance may need simply administered the coup de grace with its determination to delist the token.