Binance to Delist Waves, OmiseGO, NEM, and Wrapped NXM

Cryptocurrency exchange Binance announced the delisting of Waves (WAVES), OmiseGO (OMG), NEM (XEM), and Wrapped NXM (WNXM) on June 17 at 03:00 UTC (06:00 Kyiv). The reason cited is non-compliance with “high standards and industry requirements.” 

The platform will halt trading of all spot and margin pairs for these tokens, specifically: OMG/USDT, WAVES/BTC, WAVES/ETH, WAVES/TRY, WAVES/USDT, WNXM/USDT, XEM/USDT.

Following the delisting of these coins, all orders will be automatically removed, and new deposits will not be credited.

Support for these tokens will also cease across other Binance products, including Auto-Invest, Simple Earn, Loans, Margin, Convert, Gift Card, Binance Pay, and trading bot services.

Binance Futures will adjust the leverage and margin tiers for the USDⓈ-M WAVESUSDT perpetual contract on June 3, and on June 11, it will close all positions and conduct an automatic settlement. However, users can continue trading USDⓈ-M OMGUSDT and XEMUSDT perpetual contracts.

Assets can be withdrawn until September 17 at 03:00 UTC (06:00 Kyiv).

Waves, OmiseGo, and NEM reacted with a ~30% drop, according to CoinMarketCap.

Earlier, a researcher known as flow found that over the past six months, 80% of tokens from new listings on Binance have lost value compared to their initial trading day on the exchange.

In a recent episode of the podcast “Should Have Bought,” Binance’s head for Central and Eastern Europe, Central Asia, and Africa, Kirill Khomyakov, discussed the exchange’s operations amid tightening regulations and its exit from Russia.