TRX drops 5% in 24 hours after Binance.US delisting announcement

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According CryptoSlate data, TRON (TRX) the price recorded a decline of 4.81% in the last 24 hours after Binance.FR announced the removal of TRX and Spell (SPELL) on April 12.

Binance.US said the tokens will be delisted on April 18, as announced said.


Binance.US’ announcement said the exchange is operating in a rapidly changing regulatory environment – ​​which is why it is conducting reviews based on a number of aspects.

According to the announcement, some factors that played a role in the delisting decision included the risk profile of the tokens, the resistance of the networks to internal and external attacks, the stability of the smart contracts, and evidence of conduct or negligence contrary to ethical/fraudulent.

The exchange will suspend TRX staking on April 13 at 4 a.m. PDT – while SPELL and TRX deposits will be canceled on April 17 at 7 p.m. PDT. However, withdrawals for both assets will remain open even after the delisting ends on April 18.

TRX Price

TRX price responded to this news by registering a sharp decline from $0.0666 to $0.0632 within hours.

TRX in USD (Source: CryptoSlate)
TRX in USD (Source: CryptoSlate)

At the time of writing, TRX was trading for around $0.0642, indicating an increase of 0.07% in the last hour, according to CryptoSlate data. TRX’s 7-day change reflects a decline of 3.82%, while its 30-day status shows a -4.51% decline in price levels. However, the token’s current price levels still mark a 6.02% increase from a year ago.

FATE Price

The price of SPELL also moved almost identically to that of TRX. CryptoSlate data shows that SPELL has registered a decline of 4.65% in the last 24 hours. Due to the delisting news, the price dropped from $0.007953 to $0.007510.

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SORT in USD (Source: CryptoSlate)
SORT in USD (Source: CryptoSlate)

The current price of the token is hovering around $0.0007633, marking a decline of -6.32% over the past seven days. However, this also reflects a 6.6% increase over the past 30 days.

The post office TRX drops 5% in 24 hours after Binance.US delisting announcement appeared first on CryptoSlate.


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