Good News from Binance to SHIB, FXS, TWT and 1INCH

The world’s leading cryptocurrency exchange Binance is removing altcoins SHIB, FXS, TWT and 1INCH from its innovation zone. This move comes as part of Binance’s ongoing efforts to ensure that the projects listed on its platform meet high standards.

According to the exchange, the four tokens met the criteria to move into the official trading zone, which includes factors such as liquidity, trading volume, and project development progress. Binance regularly reviews the tokens listed in the Innovation Zone to determine if they are ready to move into the official trading zone. The four tokens will be migrated on April 18, 2023 and will soon be available for trading in the official trading zone. This move is expected to increase the liquidity and trading volume of these tokens as they will now be more accessible to a wider investor base on the platform. Here is Binance’s statement:

Based on recent reviews, Binance has decided to move the following tokens out of the Innovation Zone on 2023-04-18:

  • Shiba Inu (SHIB)
  • Frax Share (FXS)
  • Trust Wallet Token (TWT)
  • 1inch (1INCH)

The Innovation Zone was introduced to give Binance users a safe place to trade new and innovative projects. Overtime, some of these projects have proven their worth and meet the high level of standard that we expect. When we identify such projects during our periodic project review, we will move them out of the Innovation Zone.

When we conduct these reviews, we consider a variety of factors. Here are some of those criteria:

  • Commitment of team to project
  • Level and quality of development activity
  • Trading volume and liquidity
  • Stability and safety of network from attacks
  • Network / smart contract stability
  • Level of public communication
  • Responsiveness to our periodic due diligence requests
  • Evidence of unethical/fraudulent conduct or negligence
  • Contribution to a healthy and sustainable crypto ecosystem

Binance’s Innovation Zone was created to provide a platform for new and innovative projects to gain visibility and support from the crypto community. It is also designed to help investors discover new investment opportunities and access projects with high return potential. The official trading zone, on the other hand, is where the most established and well-known projects are listed for trading.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.