Altcoin

Binance Issues Vital Update On Tornado Cash (TORN) & These 9 Coins

Published

3 months ago

October 8, 2024

Binance Issues Important Announcement On Tornado Cash Torn These 9 Coins.webp.webp

Crypto exchange behemoth Binance on Tuesday unveiled a vital announcement on Tornado Cash (TORN), Vai (VAI), OMG Network (OMG), Waves (WAVES), NEM (XEM), BarnBridge (BOND), Dock (DOCK), Mdex (MDX), Polkastarter (POLS), and Pundi X PURSE (PURSE) tokens. The crypto exchange notified its users that it will perform conversion of the mentioned tokens to USDC shortly ahead. Meanwhile, the exchange also offered users a deadline for the withdrawal of these tokens in a mover to facilitate a seamless delisting process.

Binance Issues Announcement On Withdrawal & Conversion Of 10 Tokens

According to an official Binance announcement dated October 8, the exchange is set to convert Vai (VAI), Tornado Cash (TORN), OMG Network (OMG), Waves (WAVES), NEM (XEM), BarnBridge (BOND), Dock (DOCK), Mdex (MDX), Polkastarter (POLS), and Pundi X PURSE (PURSE) into USDC based on users’ wallet holdings as of October 29. The conversion, when completed, will result in crediting an equivalent amount of USDC to users’ wallets by next year. Notably, the completion of USDC crediting to wallets is expected to be over by April 28, 2025, the exchange added.

Additionally, the top crypto exchange also notified users that they can withdraw these delisted tokens before October 28 at 23:59 UTC. Following this date, withdrawals will be made unavailable for the mentioned assets, the announcement added. Moreover, the exchange highlighted that “the conversion will be executed on the basis of the average token to USDC exchange rate between October 29 and April 28, 2025.” The crypto exchange pioneer will also send an email to users when the USDC conversion process wraps up, encompassing other important details.

USDC is a Circle Internet Financial-backed stablecoin boasting international digital functionality.

Tokens’ Price In Light Of Binance Announcement

Tornado Cash

TORN price today traded at $2.166, down nearly 6% in the past 24 hours. Its 24-hour low and high were recorded as $2.155 and $2.298, respectively.

Vai

VAI price traded at $0.9998, up marginally by 0.09% over the past day. The coin’s intraday low and high were $0.9987 and $1.0107, respectively.

OMG Network

OMG price rested at $0.2796, down roughly 3% in the past 24 hours. The coin’s intraday low and high were $0.2790 and $0.3220, respectively.

Waves

WAVES price stood at $1.100, marking a 2.5% decrease over the past day alongside Binance’s announcement. The crypto’s 24-hour low and high were $1.093 and $1.139, respectively.

NEM

XEM price slipped nearly 2% in the past 24 hours and is now trading at $0.01753. The token’s intraday low and high were $0.01739 and $0.01812, respectively.

BarnBridge

BOND price tanked nearly 3% over the past day to reach $1.53. The coin’s intraday low and high were $1.53 and $1.62, respectively.

Dock

Following Binance’s announcement, DOCK price also cracked roughly 3% in the past 24 hours and traded at $0.001759 at press time. The coin’s 24-hour low and peak were $0.001741 and $0.001832, respectively.

Mdex

MDX price crashed 51% in the past 24 hours and is now trading at $0.01509. Its 24-hour low and high were $0.0145 and $0.03401, respectively.

Polkastarter

POLS price showed signs of a pullback, slipping nearly 5% over the past day to $0.304. The coin’s intraday low and high were $0.3022 and $0.3263, respectively.

Pundi X PURSE

PURSE price slipped 0.81% over the past day to reach $0.0001465. The coin’s intraday low and peak were $0.0001461 and $0.0001478, respectively.

A majority of the tokens delisted by the exchange traded in the red zone today, aligning with the discontinuation of support by one of the leading crypto exchanges. Meanwhile, in another similar chronicle, Binance warned to delist Bluzelle, CLV, SelfKey, Prosper, and VITE recently to further streamlining user offerings.