- Binance announces it will perform a reverse token split.
- The exchange will perform it to certain tokens linked to Litecoin and Uniswap.
- They advised users to redeem existing tokens into USDT before the start of the split.
Today, one of the leading crypto exchanges Binance announces it will perform a reverse split on certain tokens linked to Litecoin (LTC) and Uniswap (UNI).
The exchange further explained:
To provide a better trading experience for our users, UNIDOWN and LTCDOWN will undergo a 100,000-for-1 reverse token split. The reverse token split process will take approximately 24 hours. 100,000 UNIDOWN (before the reverse split) = 1 UNIDOWN (after the reverse split) and 100,000 LTCDOWN (before the reverse split) = 1 LTCDOWN (after the reverse split).
Moreover, Binance shared a timeline for this reverse token split. On August 17, 2021, at 03:00 AM (UTC), they will suspend trading, subscription, and redemption of UNIDOWN and LTCDOWN tokens. The next day, ...