NEM airdrop supported by Binance

nem airdrop binance

Popular cryptocurrency exchange, Binance has announced on its twitter that it will be supporting XYM airdrop for the NEM holders. Snapshop of NEM blockchain will take place on 14th January 2021 at 11:07 AM UTC time.

NEM’s XEM token deposits and withdrawals will be suspended on 14th January at around 0400 UTC so make sure you have deposited your XEM tokens in order to get the free XYM airdrop.

And while deposits and withdrawals will remain suspended, trading will not be affected.

The airdrop will be distributed in 1:1 ratio which means if you have 100,000 XEM, you will be credited 100,000 XYM. However, if your balance is under 100 XEM at time of airdrop, you will not be included in XYM airdrop.

There is no confirmation if XYM will be listed on Binance after the airdrop, so keep that in mind. Keep risk-reward ratio in mind as well as XYM may have little to no value at all if major exchanges do not add it.

That said, you will be able to withdraw XYM to your wallet just like any other NEM blockchain asset and potentially trade it on other cryptocurrency exchanges.