Binance Shakes Up Crypto Market: Three Coins Face Delisting Hammer Next Month!

Binance, the world's largest cryptocurrency exchange, has announced plans to remove a selection of tokens from its platform, citing concerns over volatility, user risk, and failure to meet the exchange's listing standards. The affected assets, specifically ICON (ICX), Secret (SCRT), and Storj (STORJ), have been under close monitoring prior to this decision.

According to an official announcement, Binance will cease all spot trading pairs involving ICX, SCRT, and STORJ starting September 3. The delisting process will also impact its Futures market, where existing trades linked to these three tokens will be automatically settled, and the creation of new positions will be prohibited on August 26.

Further operational changes include the suspension of borrowings for these assets on Binance Margin, which will take effect on August 21. Following this, ICX, SCRT, and STORJ will be removed entirely from Cross, Isolated, and Portfolio Margin services on August 26, ensuring a comprehensive cessation of trading and related activities for these tokens.

For holders of the delisted assets, Binance has provided an extended period for managing their funds. While deposits of ICX, SCRT, and STORJ will no longer be credited after September 4, withdrawals will remain open until November 3. Users who do not withdraw their assets before this deadline will have their tokens automatically converted into stablecoins on November 4, marking the final step in the delisting process.