Binance has announced the upcoming delisting of the IRISnet token (IRIS) on December 10, 2024. The decision is related to the exchange's regular asset evaluation process, aimed at maintaining high standards and compliance with market requirements. Among the key factors influencing the delisting, Binance cites low trading volume, decreased development activity, and a lack of progress in the project's development.
Details of the delisting process
End of trading date: All trading pairs with #IRIS including #IRIS/USDT will cease operations on December 10, 2024, at 03:00 (UTC).
Deposits: After this date, deposits of the token will not be credited.
Withdrawals: Users will be able to withdraw funds until February 12, 2025.
Binance Services: Support for IRIS will be disabled for products such as Simple Earn and Margin Trading, with subsequent automatic closure of positions.
Reasons and prospects
The IRISnet project, focused on DeFi and liquidity management, has lost significant investor interest in recent months. This is due to both a general decline in activity in the DeFi market and competition from more successful similar platforms. Binance regularly reviews its token list to ensure that users have access to high-quality assets and to reduce the risks associated with trading low-liquid tokens.
What does this mean for investors?
Delisting can significantly impact the price of #IRIS , as the loss of support from one of the largest exchanges sharply reduces liquidity and access to the token. Investors are advised to complete all transactions with the token as soon as possible and consider converting it into more stable assets.
This case highlights the importance of asset selection for investment, based on their resilience, liquidity, and the activity of the development team. Users involved in the project should also keep track of news and potential updates from the IRISnet developers.