Binance.US will delist the Tron (TRX) crypto

Binance.US announced that it will delist Tron (TRX) effective 18 April 18 2023, because it does not meet the crypto-exchange’s high standards.

Binance.US will delist Tron (TRX) from the crypto exchange from 18 April 2023

Binance.US crypto-exchange has announced the delisting of Tron (TRX) from the platform, effective on 18 April 2023.

TRON (TRX) Staking will be disabled on April 13, 2023 at 4 a.m. PDT / 7 a.m. EDT and be delisting at 5 p.m. PDT/ 8 p.m. EDT on 4/14.

Any staked TRX or earned rewards will be returned at 8 p.m. PDT/ 11 p.m. EDT on 4/14.

More Info: https://t.co/18qGcy8cUB

(🧵2/2)

— Binance.US Customer Support (@BinanceUShelp) April 12, 2023

Apparently, Justin Sun’s crypto no longer meets the high standards of Binance‘s US-based platform, namely Binance.US, which periodically monitors the digital assets it offers on its crypto-exchange.

Hence the official decision to delist TRX by 18 April, while as of tomorrow, 13 April, TRX staking will be disabled.

Binance.US and the decision to delist Justin Sun’s crypto Tron (TRX)

In its statement, Binance.US explained how reviews are conducted and what is being considered as key factors.

Here is a list with some of the factors cited:

• changes in the token’s risk profile;
• contribution to a healthy and sustainable crypto ecosystem;
• trading volume and liquidity;
• regulatory position in the United States;
• demonstrable progression and growth in development activity;
• changes in network resilience from external or internal attacks;
• stability of the network and smart contracts;
• levels of community engagement;
• evidence of unethical/fraudulent conduct or negligence.

Binance.US has specified that despite the delisting of Justin Sun‘s crypto, it will continue to support the stablecoins of Tether (USDT) and USD Coin (USDC) in their TRC-20 version.

Along with Tron (TRX), Binance.US has announced the delisting of the crypto Spell (SPELL).

TRX’s price predictions

At the time of writing, Tron (TRX) is ranked 16th by market capitalization, priced at $0.064.

Overall, the trend over the past few days of TRX’s price follows the rest of the major crypto assets. Looking at the chart for the past month, however, it is easy to see how TRX fluctuates above and below $0.066.

Recently, a price prediction was published for Tron, which sees a likely penalty from its team’s activity. 

The prediction says that while Justin Sun has always moved to make the ecosystem more prosperous with dApps and on-chain activity on them, a steady profit-taking on his part has occurred in parallel. 

The fact that the founders of a cryptocurrency partially “cash-out” does not mean that they want to kill a project or its native token, especially if the profits taken are reinvested in the project itself.

And yet, cryptocurrency traders may be reluctant to hold such a hailed and criticized token, seeing it precisely as the sole source of income for the creators of the crypto itself.

That said, the TRX chart for the past week shows how the price is in a very long zone of accumulation, which began in January 2022.