Binance will delist IDRT, KP3R, OOKI, UNFI, citing standard issues

Binance, the largest cryptocurrency exchange by trading volume, has announced plans to delist several tokens within a few weeks.

In a press release today, the exchange confirmed that the tokens scheduled for removal are Unifi Protocol DAO (UNFI), Ooki Protocol (OOKI), Keep3rV1 (KP3R) and Rupiah Token (IDRT).

This move follows the company’s routine asset reviews, which aim to ensure that all listed tokens meet its high standards.

The delisting will occur at 03:00 UTC on November 6. At that time, all trading pairs associated with these tokens, including UNFI/BTC, OOKI/USDT, KP3R/USDT and others, will cease trading.

Binance explained that their decision was based on factors such as the project’s development activity, the stability of their network, and adherence to regulatory requirements. They stated that these steps aim to protect users and ensure a healthy crypto trading environment.

Users who hold these tokens are encouraged to take action before important deadlines. Trading in spot markets will end on November 6, but Binance has outlined several previous milestones regarding margin trading, futures contracts and other services.

For example, isolated margin borrowings on these tokens will be suspended on October 25, and positions are scheduled to be closed on October 31. Users are advised to close positions and transfer assets to avoid losses.

Following delisting, deposits of tokens will no longer be credited as of November 7. However, Binance will support withdrawals until February 6, 2025. The exchange also mentioned the possibility of converting delisted tokens into stablecoins, but there is no guarantee of this. yet on this matter.

The delisting follows a similar trend in the crypto market, where assets delisted from the Binance exchange are subject to frequent price fluctuations.
Past delistings from Binance led to major price drops in some tokens, such as TrueUSD and Tornado Cash’s TORN and Monero. However, there have been cases where tokens rose despite Binance being delisted, as seen on Reef Finance.