Binance, a leading cryptocurrency exchange, has recently announced the delisting of a number of tokens from its loanable assets within its Flexible Rate Loan program. Effective January 15, the following tokens will no longer be available for new loans: Banana Gun (BANANA), Harmony (ONE), Gains Network (GNS), Kadena (KDA), Liquity (LQTY), Livepeer (LPT), Portal (PORTAL), Tellor Tributes (TRB), Viberate (VIB), and Vulcan Forged PYR (PYR). Existing loan orders with these tokens will not be affected until users choose to repay them. This strategic move reflects Binance's commitment to regularly reviewing and updating its product offerings to align with market trends and user needs. By delisting certain tokens, Binance aims to streamline its services and focus on assets that provide greater value to its user base. Although the exchange did not specify reasons for each delisting, such actions are typically influenced by factors like market liquidity, regulatory compliance, and overall demand.
In its related move, IOST, or Internet of Services Token, has revealed significant changes under its initiative with the IOST 3.0 program.
This project will aim at growing the total and circulating supply in order to strengthen its Layer 2 infrastructure and gain a position among top Web3 payment solutions. This growth includes the support of more than 5,000 validator nodes and funding different development programs. The reallocation framework is designed to allow 60% of the new supply for network infrastructure, 20% for community development, and the rest 20% for payment innovation, technical grants, governance operations, and team incentives. After these announcements, several of the affected tokens have seen significant price action. Liquity (LQTY) is up 20% in the last 24 hours, trading at $1.80. Banana Gun (BANANA) has risen 6.57% to $38.33, and Harmony (ONE) is up 8% to $0.023. IOST also rose 3.8% to $0.0068. These market reactions reflect the fact that investors are indeed following Binance's strategic moves and IOST's developmental pace. Such news has a profound impact on the market sentiment and the valuation of tokens, as seen in this cryptocurrency landscape.
Disclaimer: This article is published for general purposes only and does not constitute financial advice. Any cryptocurrency investment would involve risks, and one should research every aspect and then make an investment according to financial conditions.
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