Dear LBank users,
To enhance the trading experience for our users, XRP5S, PEOPLE5S, ZEC3S, CTK3L, PEOPLE3S, ROSE3L, BCH5L, RVN3L, SNX3L, ICX3L will undergo a 1-for-10,000 reverse token split. The process will commence at 10:00 (UTC) on July 18, 2024, and will take approximately three hours to complete. The total asset value users hold will remain unaffected by the reverse split.
Following the 1-for-10,000 reverse split:
10,000 XRP5S (before) = 1 XRP5S (after)
Same as PEOPLE5S, ZEC3S, CTK3L, PEOPLE3S, ROSE3L, BCH5L, RVN3L, SNX3L, ICX3L
During the reverse split period, XRP5S, PEOPLE5S, ZEC3S, CTK3L, PEOPLE3S, ROSE3L, BCH5L, RVN3L, SNX3L, ICX3L will happen:
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All existing orders will be automatically canceled, and trading will be temporarily suspended.
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A snapshot of users' account balances will be taken.
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Asset balances will be updated accordingly, and trading will resume.
Please check the updated XRP5S, PEOPLE5S, ZEC3S, CTK3L, PEOPLE3S, ROSE3L, BCH5L, RVN3L, SNX3L, ICX3L assets in "Wallet → Spot" after the reverse split.
【Regarding Reverse Split】
When the leveraged token price falls below 0.01 USDT, LBank may implement a reverse token split to prevent any negative impact on users' trading experience. The precise price at which a reverse token split is triggered may vary depending on market conditions.
A reverse token split consolidates the existing number of issued tokens into a smaller quantity of proportionally more valuable tokens.
For instance, with a 1-for-1000 reverse split of BTC3L, if the price of BTC3L is 0.005 USDT and a user holds 1000 BTC3L before the reverse split, the user will possess 1 BTC3L valued at 5 USDT each after the reverse split. The total value of the user's BTC3L holdings will remain unchanged at 5 USDT before and after the reverse split.
Risk Warning:
Trading in the cryptocurrency market carries a substantial risk and may result in significant profits or losses. Exercise caution when trading. Although LBank strives to select high-quality assets, it cannot guarantee profits and will not be held responsible for any trading losses incurred.
LBank Community
For any assistance, please contact us at our official email service@lbank.com. We are dedicated to providing quality, professional and prompt support.
Disclaimer: Digital assets are subject to high market risks and price volatility. The value of your investments may fluctuate, and could even lead to a loss of principal. You are solely responsible for your investment decisions, and LBank is not liable for any losses you may incur. You should invest only in products you are familiar with and understand the risks involved. You should carefully consider your investment experience, financial status, investment objectives, and risk tolerance, and consult an independent financial advisor before any investment. Past performance is not a reliable indicator of future performance. Content on the LBank platform does not include advice or recommendations, and should not be construed as financial advice.
LBank reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
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