Binance to Delist WRX, AKRO, and BLZ Tokens on December 25, 2024

One of the biggest blows for all WazirX holders has seen as Binance announce its plans to delist the WRX token. The news sent shockwaves through the

Binance has announced plans to delist the WRX token from its platform, dealing a major blow to WazirX holders. The news sent shockwaves through the community, with WRX dropping by nearly 40% in just one hour following the announcement.

The exchange announced that WRX, along with AKRO and BLZ, will be delisted from its platform on December 25, 2024, at 03:00 UTC.

The token was trading at around $0.212 before the announcement but has now plummeted to $0.1189, indicating a significant decline in its market value. Its price dropped almost 51% in 24 hours, with a current market capitalization of $45.8 million and 24-hour trading volume dropping by 24%, valued at $20.38 million.

The announcement comes amid increasing speculations around WazirX, with recent reports claiming that Binance may bail out the exchange following a huge hack. However, WazirX management quickly denied these speculations, explaining that the activity was only a temporary fund consolidation and asset rebalancing and not a bail-out process.

Apart from WazirX (WRX), Binance will also delist Kaon (AKRO) and Bluzelle (BLZ). The tokens were selected for delisting after a comprehensive evaluation process, which included the level of commitment and engagement by the project teams, trading volumes, and the general stability of the networks.

Binance highlighted that it reviews its listed assets periodically to ensure that they meet the high standards of the exchange, especially in a rapidly changing regulatory environment.

The tokens will be delisted from all spot trading pairs. Some of the specific pairs that will no longer be available on the platform after December 25, 2024, at 03:00 (UTC) include AKRO/USDT, BLZ/BTC, BLZ/USDT, and WRX/USDT.

During the delisting process, users are advised to close any open positions and transfer their holdings to a spot wallet. Binance will stop accepting any deposits related to these tokens from December 26, 2024, onwards. Withdrawals for WRX, AKRO, and BLZ shall be closed completely by February 25, 2025.

After this date, these tokens will be converted into stablecoins, but such conversion does not guarantee and shall be separately notified by Binance.