TRX Plummets 5% in 24 Hours After Binance.US Delisting Bombshell!

Key Points:

• Binance.US to delist TRX and SPELL on April 18, citing risk profile, smart contract stability, and unethical/fraudulent conduct or negligence as reasons. TRX price drops 4.81% in 24 hours.
• TRX price declines from $0.0666 to $0.0632 and reflects a 3.82% fall in 7-day change.
• Withdrawals for TRX and SPELL will remain open after the delisting, but TRX staking will be suspended on April 13.

TRON (TRX) has recently recorded a 4.81% fall in the last 24 hours after the announcement by Binance.US that it will be delisting TRX and Spell (SPELL) on April 12.

This news has stirred up a lot of speculation and concern in the cryptocurrency community, as it raises questions about the future of these tokens and their ability to withstand the rapidly changing regulatory environment.

The delisting announcement by Binance.US cited a number of factors that played a role in the decision, including the tokens’ risk profile, networks’ resistance to internal and external attacks, smart contract stability, and evidence of unethical/fraudulent conduct or negligence. While it is important for exchanges to conduct regular reviews and assessments in order to ensure the safety and stability of their platform and the assets traded on it, the delisting of these tokens has left investors wondering about the future of TRON and SPELL.

As a result of this news, the TRON price has experienced a sharp decline from $0.0666 to as low as $0.0632 within a few hours, reflecting the uncertainty and concern among investors. TRON is being traded for around $0.0642, which indicates a 0.07% increase in the last hour, according to CoinCu data. However, TRON’s 7-day change reflects a 3.82% fall, while its 30-day status shows a -4.51% decline in price. Despite these fluctuations, the token’s current price levels still mark a 6.02% increase from a year ago.

The delisting of TRON and SPELL from Binance.US may have caused some short-term fluctuations in price levels, it does not necessarily reflect the long-term potential of these tokens. As the cryptocurrency market continues to evolve and adapt to changing regulatory and market conditions, it is possible that TRX and SPELL may be relisted on other exchanges or gain more widespread adoption and use cases. Therefore, it is important for investors to carefully consider the risks and opportunities associated with these tokens before making any investment decisions.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Annie

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