Poloniex’s Recent Decisions
In an unexpected twist, Poloniex has decided to wave goodbye to six digital currencies: Clams (CLAM), Pascal (PASC), Steem (STEEM), Navcoin (NAV), GameCredits (GAME), and LBRY Credits (LBC). If you’ve got any of these stashed away, it might be time for some serious digital spring cleaning.
Important Dates to Remember
Mark your calendars, folks! Here’s the breakdown of key dates for the upcoming delistings:
- Oct. 15: Trading for PASC, STEEM, NAV, GAME, LBC, and CLAM will officially be switched off.
- Oct. 28: LBC withdrawals will be permanently disabled.
- Nov. 15: Withdrawals for PASC, STEEM, NAV, GAME, and CLAM will end, locking you out for good.
How to Withdraw Your Assets
If you’re one of the lucky few holding onto these assets, Poloniex has provided a straightforward process for you. Simply navigate to the Balances page in your account:
- Select the currency you wish to withdraw.
- Provide a valid withdrawal address.
- Ensure your balance exceeds the minimum network fee for a successful transfer.
It’s like preparing your backpack for a hike—make sure you’ve got everything you need before heading out!
Why Are Exchanges Delisting?
You might be wondering, why now? Well, delisting can stem from various reasons including lack of trading volume, regulatory concerns, or even internal policies. In fact, just last month, Binance announced a massive delisting of about 30 trading pairs, coincidentally, some of which were launched via their own initial exchange offering platform.
Trends in Crypto Exchange Behavior
In light of recent events, it’s clear that exchanges are sharpening their policies regarding which cryptocurrencies they will support. For instance, Upbit’s decision to delist privacy coins like Monero (XMR) and DASH stemmed from concerns surrounding money laundering. It seems the crypto world is a bit like a high-stakes poker game—if you don’t keep your cards close to your chest, you might just be shown the door.
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