Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
- Binance is removing TRX from its trading platform.
- TRON’s price fell approximately 5% within a day.
Amidst speculation regarding Tron’s founder, Justin Sun, circulating on social media, Binance US, the largest cryptocurrency exchange globally, declared that it will delist the TRX token effective April 18, which is associated with Justin Sun’s Tron cryptocurrency platform. This announcement led to a drop in the token’s value. TRON’s TRX plummeted as much as 13% from $0.06651 to $0.06262, reflecting a decrease of about 5%.
On Wednesday, Binance US tweeted that TRX, along with another cryptocurrency, Spell, would be removed from the exchange to ensure that the listed tokens “meet the standard of excellence we expect.” Additionally, TRX staking will no longer be offered on Binance US.
Related Posts
This decision follows shortly after Justin Sun faced a lawsuit from the U.S. Securities and Exchange Commission (SEC) for allegedly selling and airdropping unregistered securities, committing fraud, and manipulating the TRX token market.
TRON Current Status
In response, Justin Sun addressed the rumors, stating, “It’s FUD,” in reference to the speculation circulating in the crypto community regarding his alleged arrest. Following his statement, TRON’s 24-hour trading volume increased by 82% to $412 million.
TRON (TRX) Price Chart (Source: CoinMarketCap)
At the time of this report, TRX was trading at $0.06388 with a market capitalization of $5.8 billion, according to CoinMarketCap. Additionally, the Toncoin TON price experienced a decline of approximately 2.3% over the past 24 hours and 6% over the week, with its market cap at $3.1 billion, down by 2%.
