In an announcement today, Binance stated that based on recent reviews, it decided to delist Mithril (MITH), Tribe (TRIBE), Augur (REP), and Bitcoin Standard Hashrate Token (BTCST) tokens on Dec. 22 at 09:00 ( UTC) and stop trading on all trading pairs.
As noted in a blog post on the subject, Binance regularly reviews the standards for a listing on the exchange. If a token no longer meets that standard, “we will conduct a more thorough review and potentially delist it,” Binance stated.
Factors in the review include the team’s commitment to the project, the volume and quality of development activity, the volume of operations and liquidity, the stability and security of the network against attacks, and the stability of the network. .
Will Team MITH be able to download 200,000 Binance Coins (BNB)?
the mithril team answered to the notice, which reveals that as part of the MITH listing, they had to pay a 200,000 BNB deposit to Binance, which has yet to be returned.
On behalf of the Mithril community, we are asking CZ to return this deposit so that Mithril can continue to operate.
The Mithril team wrote via Twitter that it has a long history of working with Binance since 2018 as the first token listed on the BNB Beacon Chain (BEP2) network. Furthermore, the team behind MITH claims that they have donated to Binance Charity and have collaborated on other Binance initiatives based on partnerships and informal requests.
Since Binance “unilaterally decided” to end the partnership, the Mithril team is requesting a return of the 200,000 BNB deposit. However, it is not clear at this time if the request is justified.
At press time, CEO Changpeng Zhao had yet to comment on the matter. Whether the Mithril team has a legal claim against Binance under the contractual provision remains to be seen. Similarly, it also remains to be seen if the Mithril Team will dump the 200,000 BNB onto the market in one fell swoop.
53 million inbound sell pressure on bnb https://t.co/EZv9hEZrdx
— degeneration (@hodlKRYPTONITE) December 15, 2022
Crypto Community Slams Mithril
Words of support for Binance and harsh criticism of Mithril come from the Twitter crypto community. The tenor: the team has not delivered work for a long time, the last tweet is from January 2021, the website is not active, and there is no whitepaper.
Mithril says that it is a decentralized social media platform on the Ethereum blockchain. It is designed to integrate with new and existing social networks to reward content creators for their contributions to the network.
At press time, BNB was trading at $264.80. Following Binance and FUD speculation in recent days, BNB is underperforming in the market. While BTC (+5%) and ETH (+3.8) are posting gains over the past seven days, BNB is down 7% in the same time frame.
BNB price, 1-day chart. Source: TradingView
This post Does Binance Coin Face Selling Pressure? Mithril requests 200k BNB
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