cryptonewsz.com
$HTX has announced that it will support the rebranding of SwissBorg tokens. The tokens are being rebranded from CHSB to $BORG. For this, $HTX has made some arrangements, including, but not limited to, suspending withdrawals and deposits of CHSB, effective 06:00 UTC on October 16, 2023. Needless to say, trading of the said token will also be ineffective at the same time on the same date. Service will resume for $BORG after an official announcement.
Snapshots of users’ positions will be taken on October 16, 2023, at 16:00. This will happen after all pending orders have been canceled. CHSB will be converted into $BORG on a 1:1 basis. Cancellation of pending orders pertains to the pair of CHSB and USDT. $HTX will also disable spot trading pairs on October 16, 2023, at 06:00 UTC.
The effect of the announcement is evident on the token. It has been down by 9.92% in the last 24 hours. CHSB was last seen being traded at $0.193357. This is, however, a rise of 9.18% in the last 7 days. There is a chance that the slip is a direct result of exchange platforms temporarily halting the trading services of the token. When services resume, the SwissBorg forecast is estimated to inch closer to $0.23 by the end of this year. A positive performance like this could maintain a similar trend in the next year.
Rebranding CHSB to $BORG occurs when the Polygon ecosystem attempts to migrate MATIC tokens to POL tokens in 1:1.
$HTX is supporting the rebranding of CHSB to $BORG by temporarily suspending all the key services and pending orders related to the token on October 16, 2023, at 06:00 UTC. Commencement, or resumption, of services with $BORG, will be announced later with an official post by the exchange platform.