Breaking: Binance Removes Shiba Inu, 1INCH, FXS, TWT From Innovation Zone
The world’s largest crypto exchange Binance on Monday announced that it decides to move out Shiba Inu (SHIB), 1INCH, Trust Wallet Token (TWT), and Frax Share (FXS) from the Innovation Zone.
Binance allows users to trade new and innovative projects by listing these tokens in Innovation Zone. It enables the crypto exchange to balance commitments toward spreading the freedom of money and keeping users safe by limiting and warning users about potential risks of investing in new tokens.
Binance Removes Shiba Inu (SHIB) After Shibarium Beta Release
According to an official announcement on April 17, Binance plans to move Shiba Inu (SHIB), 1INCH, Trust Wallet Token (TWT), and Frax Share (FXS) out of the Innovation Zone. Users will have full access to these tokens from Tuesday, April 18.
Binance periodically reviews projects listed in Innovation Zone. As these projects proved their worth and meet a high level of standard, the exchange moves the projects’ tokens out of the Innovation Zone.
Binance considers several factors during periodic project reviews. It includes commitment of the project’s team, level and quality of development activity, trading volume and liquidity, stability, and safety of the network, and project’s community size and communication. Moreover, Binance checks responsiveness of the project to periodic due diligence requests, contributions to the crypto community, as well as evidence of unethical practices and negligence by projects.
Shiba Inu has witnessed huge trading volume, development activity, and community participation after the Shibarium Beta “Puppynet” release last month. The number of wallets holding SHIB and projects collaborating with Shibarium are continuously rising.
1Inch Exchange has grabbed community attention amid rising development activity, liquidity providing, introduction to 1inch stablecoin ($1IS), and launch of the 1inch Wallet.
Trust Wallet Token and Frax Shares have also recorded massive community attention amid heightened regulatory scrutiny and the Ethereum Shanghai upgrade. The projects have recently gained the community’s trust and prices are rising higher.
Prices To Rally?
Traders didn’t immediately respond to the recent announcement by Binance. Shiba Inu price currently trades at $0.00001146, down 2% in the last 24 hours despite rising SHIB burns.
Meanwhile, Trust Wallet Token (TWT) trades up 3% at $1.29 and 1INCH price soars 1% to $0.5713. Frax Share (FXS) price fell over 3% in the last 24 hours. However, these tokens moving out of the Innovation Zone will have some upside move in the coming days.
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