Binance confirmed its support for the free “airdrop” distribution process for BNT token holders.

The update says the proposed lottery is worth $1.6 million in BNT, according to an estimate of the current price of the BNT digital token.

According to the information published on the day before yesterday, November 28, a snapshot of all (BNT) collected by users is scheduled to be taken on January 1, 2020, at 5:00 am UTC.

Users will then be rewarded with dropping ETHBNT tokens of which the token is 1/10 of the value of the USD once the snapshot is over.

The total expected BNT freely distributed as scheduled is approximately $1.6 million at the time of writing.

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Binance noted that users should see further notice once the redistribution is complete and on the same day there will be a final distribution of the number of users.

Admission criteria:

According For Binance, any user with a pending deposit or withdrawal of BNT tokens when the snapshot continues, their BNT will not be counted as part of the balance.

Users are hereby advised to take advantage of this period to complete their deposits and withdrawals before starting to take the shot.

Any user with balances less than 5 BNT, along with funds in open trade orders, will not be able to be part of the scheduled “airdrop” plan.

The statement also indicated that BNT balances in sub-accounts will be added to the main account, adding that sub-accounts will not be granted “airdrop” separately.

Furthermore, Binance added that listing and trading “ETHBNT” on the platform must go through the same review process that digital tokens already listed go through.

This means that the exchange’s support for airdrops is not a guarantee that ETHBNT will be listed for trading.

The platform concluded that withdrawals from “ETHBNT” will be available within 5 working days of receiving the free bonus.

Read:Binance platform adds the option to buy cryptocurrencies against the Turkish lira

BNT Coin Market Performance:

BNT and most other cryptocurrencies in the market have seen big moves over the past 24 hours.

The news of Binance’s support for airdrops appears to be the force behind the recent performance by BNT:

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Read also:

What is an Airdrop? How can anyone get free cryptocurrency?

Tips to avoid scams in the world of free coins (airdrops)