Altcoin News

Breaking: Binance Removes Shiba Inu, 1INCH, FXS, TWT From Innovation Zone

Binance decides to move out Shiba Inu (SHIB), 1INCH, Trust Wallet Token (TWT), and Frax Share (FXS) from the Innovation Zone.
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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.

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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.

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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.

Also Read: Elon Musk Reveals US Govt Can Access Twitter DMs, Bitcoin And Dogecoin Fall

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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