Binance has announced it will delist CloakCoin (CLOAK), Modum (MOD), SALT (SALT), Substratum (SUB), and Wings (WINGS).
While Binance isn’t the only place to trade these coins, it is a blow to any HODL’ers given that in most if not all cases Binance was the biggest exchange these were listed on in terms of volume.
Although trading stops on 2/22, users have some time to withdraw their assets.
Here are the need to know details:
- All trade orders will be automatically removed after trading ceases in each respective trading pair.
- To view your assets after trading ceases, please ensure you have not selected “Hide small assets” in your Funds page.
- Withdrawals of these coins and tokens from Binance will continue to be supported until 2019/05/22 at 10:00 AM UTC.
For more, see: Binance Will Delist CLOAK, MOD, SALT, SUB and WINGS.
TIP: It is a bad sign to see a coin delisted from Binance, but that doesn’t mean the coin is done for. You can always keep your coin in a wallet or move it to another exchange that does trade in that coin. Still, like a stock getting delisted, you have to be smart about what that means for your investment. It is common for coins to not do well after being delisted from a major exchange.