By George Ward
Following Binance’s delisting of the coin, the blockchain-built social platform Mithril asks for a refund. The project asserted that it deposited 200K BNB to Binance before the popular exchange listed its token in November 2018.
“We respectfully ask to have our 200K BNB deposit back given that Binance has unilaterally decided to end this relationship,” Mithril tweeted. Mithril’s BNB deposit value was around $1 million as of the token’s listing date four years ago.
Furthermore, Mithril claimed that the project hadn’t violated any rules of the leading exchange since the listing of its token. In addition, Mithril noted that the company has been collaborating with it on several projects since 2018. Mithril further said it contributed to Binance’s charity projects as part of its agreement with the exchange.
MITH’s Value Drops By 20%
Following the delisting announcement, MITH’s price declined by 20%. Mithril claims it would use the refund to improve its operations.
Before the delisting, the blockchain social media project was largely dormant for more than two years. Before tweeting about the delisting issues it’s facing with Binance, the firm’s last tweet was in January last year.
Also, Mithril’s website doesn’t show it has recently been active. MITH was one of the four coins Binance delisted on Thursday. Others are Tribe (TRIBE), Augur (REP), and Bitcoin Standard Hashrate Token (BTCST).
The exchange’s official statement about the delisted tokens was that they no longer meet the necessary conditions to remain listed on the exchange. The statement further stated that the exchange would no longer acknowledge any deposits for these delisted tokens.
Also, these tokens will no longer be eligible for borrowing or collateralization purposes on the crypto loan service platform. However, those with balances of these tokens have until December 23 to withdraw or convert them to other listed tokens on the platform.
Data from CoinGecko shows that Mithril’s token is ranked outside the top 1,000 crypto tokens based on market cap. Currently, MITH has a $5.9 million market cap.