Binance, the world's largest cryptocurrency exchange, continues its altcoin announcements.
While delisting some altcoins, Binance also lists some new altcoins and supports the rebranding of some altcoins.
Making a new announcement in this context, Binance said that it will support the revaluation and rebranding plan of the altcoin named Cocos-BCX (COCOS).
Stating that it will support the rebranding of the altcoin named Cocos-BCX (COCOS) as Combo (COMBO), Binance made the following statements in its statement:
“Binance will support the Cocos-BCX (COCOS) token swap and plan to rebrand to COMBO (COMBO).
As of 08:30 UTC on 25.05.2023, Binance Futures will suspend trading of the USDT Collateralized COCOS Perpetual Contract.
Binance Futures will adjust the leverage and margin tiers of the USDT-Margined COCOS Perpetual Contract on 18.05.2023 at 09:00 UTC according to the table indicated.
Existing positions opened before the update will be affected.
At 09:00 UTC on 25.05.2023, Binance Futures will close all positions, perform an automatic payment and cancel all pending orders on the USDT Collateralized COCOS Perpetual Contract and remove this contract from the list after payment is complete.
Users are advised to close all open positions before 09:00 UTC on 25.05.2023 to avoid automatic debit.
Also, Binance will suspend COCOS/USDT cross and isolated margin borrowing on 19.05.2023 at 08:00 UTC.
Binance will delist all existing COCOS spot trading pairs (i.e. COCOS/USDT, COCOS/BUSD, COCOS/BNB and COCOS/TRY) at 08:00 UTC on 29.05.2023 and cancel all pending COCOS spot trading orders. "
Binance, which will support the rebranding of COOCS as COMBO, made the following statements on the subject:
“Binance will recover all Cocos-BCX (COCOS) balances and will begin distributing COMBO (COMBO) to all eligible users at the rate of 1 COCOS = 1 COMBO.
On 02.06.2023 at 08:00 UTC, trading will begin for COMBO/USDT, COMBO/BNB and COMBO/TRY spot trading pairs.
Once the token swap is complete, Binance will make a separate announcement to inform users when COMBO (COMBO) deposits and withdrawals will open.
Please note that deposits and withdrawals of COMBO (COMBO) via the BNB Chain of Signs (BEP2) will not be supported."
After Binance's announcement, there was a 13% rise in COCOS. COCOS, which has shot up to about $ 1.70, continues to be traded at $ 1.6262 at the time of writing.
*Not investment advice.