In a shocking announcement, Binance, one of the largest cryptocurrency exchanges in the world, has decided to delist ApeCoin (APE), a meme-based token that claims to support animal welfare and conservation projects. The decision was made after Binance received numerous complaints from users and regulators about the legitimacy and transparency of ApeCoin and its team.
ApeCoin is a token that aims to support the evolution of art, gaming, entertainment, digital and physical events, storytelling, and everything else web3 dreams up. It is the official token of Bored Ape Yacht Club, a collection of 10,000 unique NFTs that grant access to exclusive benefits and experiences.
ApeCoin is an ERC-20 token that runs on the Ethereum blockchain. It has a total supply of 1 billion APE and a circulating supply of 368 million APE as of June 2023. The current price of ApeCoin is $3.13 USD, with a market cap of $1.15 billion USD, ranking it #41 among all cryptocurrencies.
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According to Binance, ApeCoin has violated several of its listing criteria, such as providing accurate and timely information, maintaining a healthy and active community, and complying with relevant laws and regulations. Binance also stated that ApeCoin has failed to demonstrate its social impact and contribution to the crypto ecosystem, as well as its innovation and technical development.
Binance will suspend trading and deposits of APE on June 15, 2023, at 12:00 PM (UTC), and will withdraw all APE balances from users’ accounts on June 30, 2023, at 12:00 PM (UTC). Users are advised to withdraw their APE tokens before the deadline, or they will lose them permanently. Binance will not be liable for any losses or damages caused by the delisting of APE.
The delisting of ApeCoin has sparked a lot of controversy and debate in the crypto community. Some users have expressed their disappointment and anger at Binance for removing a popular and fun token that supports a noble cause. They have accused Binance of being biased and unfair and have threatened to boycott the exchange. Others have applauded Binance for taking a bold and responsible step to protect its users and reputation from a potential scam. They have praised Binance for being diligent and professional and have urged other exchanges to follow suit.
ApeCoin’s team has not issued any official statement or response to the delisting announcement. However, some sources claim that the team is planning to launch a new token on another blockchain platform, with a similar name and logo. The sources also claim that the team is offering a 1:1 swap for existing APE holders who want to migrate to the new token. However, these claims have not been verified or confirmed by any reliable authority.
ApeCoin’s price has plummeted by more than 90% since the delisting announcement, reaching an all-time low of $0.0001 per token but currently trading above $3 as of press time. The trading volume and liquidity of APE have also dropped significantly, making it harder for users to sell or buy the token. The future of ApeCoin looks bleak and uncertain, as it faces legal and regulatory challenges, as well as a loss of trust and support from its community.