On July 14, 2019, the popular cryptocurrency exchange Binance announced that it would be delisting lending platform Lend from its platform. Lend is a decentralized lending protocol built on the Ethereum blockchain that allows users to earn interest on their digital assets.
This news came as a surprise to the crypto community, as Binance is one of the largest and most popular exchanges in the world.
So, what happened to Lend on Binance?
The official announcement from Binance stated that the decision to delist Lend was due to “poor performance.” The exchange went on to say that Lend had “underperformed against [Binance’s] listing standards” and that the team had “failed to meet [Binance’s] ongoing due diligence requirements.”
This explanation has not satisfied many in the crypto community, as Lend was one of the top performing assets on Binance in terms of both price and volume. In the past 24 hours, Lend was trading at $0.016 and had a 24-hour trading volume of over $1 million.
NOTE: WARNING:
Binance is currently experiencing an issue with its Lend feature. This issue may cause users to be unable to access the Lend feature. If you are currently trying to use the Lend feature, we recommend that you avoid doing so until the issue has been resolved. Additionally, we suggest that you exercise caution when engaging in any activity on Binance.
At the time of writing, Lend is now trading at $0.012.
There are many theories as to why Binance would delist Lend, despite its apparent success. Some believe that Binance may be trying to distance itself from Ethereum-based projects in order to focus on its own blockchain projects.
Others believe that this is simply a case of Binance playing favorites with certain projects.
Whatever the reason for Binance’s decision, this news has come as a shock to the crypto community. Lend was a popular project with a bright future, and its delisting from Binance is sure to have an impact on its price and trading volume.
Only time will tell how this situation will play out, but one thing is for sure: the crypto world is watching closely.
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