Binance announced the termination of support for deposits and withdrawals for two cryptocurrencies via specific networks, starting from June 16 at 11:00 AM Saudi Arabia time.
The affected cryptocurrencies are:
The platform confirmed that any deposits made using these networks after the specified date may not be credited to the balance and may result in the loss of coins.
Therefore, it urged users to withdraw or transfer their balances before the specified date, indicating the possibility of using alternative networks that are still supported.
Although the statement did not provide a direct reason for stopping support, many analysts believe and suggest that this decision is part of Binance's ongoing efforts to streamline its operational structure and improve network efficiency.
This action coincides with the recent listing of the FIS and MDT coins on the platform's monitored cryptocurrency list, alongside other cryptocurrencies such as BIFI and KMD, indicating that they may not meet the listing standards set by Binance.
In this context, the platform also announced the cancellation of four trading pairs for reasons related to low liquidity and trading volume, as part of its periodic review aimed at maintaining market quality and protecting users.
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