Bitcoin and altcoin announcements made by Binance in the crypto money world have importance. Accordingly, there are steps taken. The stock market provides information from time to time with its announcements. There is a new announcement today. Let’s look at the details.
Announcement for Altcoin
As Kriptokoin.com, we recently announced that Binance has made an announcement for an altcoin. In the announcement, the exchange emphasized that TORN deposits were temporarily paused. Stating that the pause was temporary, the stock market also announced a reason. Accordingly, the reason was the circumstances surrounding the protocol.
On the other hand, Binance announced that it has decided to move Altcoin Tornado Cash (TORN) to the Innovation Zone by 30.05.2023. But investors will now immediately wonder. I wonder if the TORN operations continue? saying. The stock market also answers this question. Accordingly, TORN emphasizes that the deposits continue again.
Description of the stock market
In the statement by the giant Bitcoin exchange Binance, there is an emphasis on the governance situation in the altcoin Tornado Cash (TORN) DAO. While the proposal to reinstate governance is accepted and executed, Binance states that it is resuming deposits for TORN via the Ethereum (ERC20) network and BNB Smart Chain (BEP20).
As it will be remembered, Binance suspended TORN deposits on May 21 due to the events at the TORN DAO. Users were unable to transact via the Ethereum (ERC-20) network and the BNB Smart Chain (BEP20) network. As a result, Binance has now decided to take the next step and move altcoin Tornado Cash (TORN) to the Innovation Zone. Accordingly, until May 30, Tornado Cash (TORN) will be under scrutiny. Binance uses the Innovation Zone for a very important purpose. The projects taken into the Innovation Zone are closely followed.
TORN price after move
After Binance’s announcement, there was a 3% increase in the price of altcoin TORN. Accordingly, the price first went up to $ 4.40. After that, there was some regression. The TORN price is trading at $4.32 at the time of writing.
Binance’s Innovation Zone news is important to investors. In fact, the cryptocurrency exchange protects its investors with this step. There are many negative events in the crypto money world. Therefore, the stock market has secured both itself and its investors. In this way, the negative situations experienced especially in altcoins are not reflected to the investor. Ultimately, the move is a matter of trust for cryptocurrency investors.
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