Track market-moving stories before they get noisy

Nexus Mutual (NXM); is a decentralized finance protocol based on the Ethereum network. Although Nexus Mutual has its own cryptocurrency, NXM, it is known that this can only be used within its own network. Users can obtain insurance through smart contracts using the network’s own cryptocurrency NXM and cover their losses against potential attacks or losses.

The decentralized finance sector has achieved incredible growth recently, but it also brings with it certain risks. Thanks to Nexus Mutual, the risk on smart contracts is distributed equally to everyone using it. The idea of Mutual, derived from the concept of partnership, quickly became popular in the cryptocurrency sector, and other cryptocurrency projects have also taken similar steps. Wrapped NXM Coin, on the other hand, is a cryptocurrency that users can use outside the Nexus Mutual platform.

While the governance token of the Nexus Mutual protocol, NXM, can only be used on this network, Wrapped NXM can be used on many networks. Users need to buy WNXM Coin or NXM Coin and hold a certain amount of NXM Coin to benefit from this insurance service in the DeFi sector.

Where to Buy WNXM Coin?WNXM Coin can be purchased using Binance, the world’s largest cryptocurrency exchange by trading volume. To buy WNXM Coin on Binance, you first need to send a certain USDT balance to the exchange. After sending the balance, WNXM/USDT trading pairs can be used for fast purchases due to high liquidity support.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

The world’s largest crypto exchange Binance on Monday announced delisting and ceasing trading of these four cryptocurrencies from Binance spot and margin. Waves (WAVES), OMG Network (OMG), NEM (XEM), and Wrapped NXM (WNXM) delisting announcement has caused prices to dip massively.

Derivatives trading data report major trades as traders and investors move or readjust their holdings in WAVES, OMG, XEM, and WNXM, causing open interests to pump over 100% in the last 24 hours.

Binance Announces Delisting of WAVES, OMG, XEM, NXM In an official announcement on June 3, Binance said it has decided to delist and cease trading on all spot and margin trading pairs of Waves (WAVES), OMG Network (OMG), NEM (XEM), and Wrapped NXM (WNXM). Users will not be able to trade these cryptocurrencies after 03:00 UTC on June 17.

Exchange claims these crypto have failed to meet the standard and industry requirements in reviews done periodically by the crypto exchange.

“When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it. Our priority is to ensure the best services and protections for our users while continuing to adapt to evolving market dynamics,” stated Binance.

The last date for withdrawing these tokens is September 17 as the exchange completely ends support for these crypto. Binance delisting these tokens from Binance Simple Earn, Binance Auto-Invest, and Binance Loans weeks before the delisting date.

Binance’s Delisting Factors For All Crypto Crypto exchange Binance reviews listed crypto for maintaining a high level of standard and industry requirements. These are in line with listing requirements of the exchange.

These include a team’s commitment to project, development activity, trading volume and liquidity, stability and safety of network, smart contract stability, level of public communication, response to exchange’s periodic due diligence requests, unethical/fraudulent conduct or negligence, regulatory requirements, and contribution to crypto ecosystem.

Prices Tumbled After Announcement WAVES price tumbled over 25% after Binance’s announcement, with the price currently trading at $1.77. The trading volume has jumped over 900% as traders and investors make quick readjustments to their holdings.

Meanwhile, OMG, WNXM, XEM prices have dropped over 25%, 3%, and 29%, respectively, in the last few hours.

Interestingly, the announcement caused massive futures trading as WAVES, OMG, XEM futures open interest jumped over 100%. The move is likely triggered by a change in margins and readjustments to trade.

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