Binance Delisting 3 Altcoins Sparks Double-Digit Price Drops
Binance, the world’s largest cryptocurrency exchange by trading volume, has announced the delisting of spot trading pairs for three altcoins.
This action will take effect at 03:00 UTC on December 25th and reflects Binance’s efforts to improve market quality.
What Binance users need to do
Binance occasionally reviews the performance of its listed trading pairs, analyzing various factors to determine its listing and delisting actions. It evaluates factors such as the team’s commitment to the project, the level and quality of development activity, and the stability of the network and smart contracts.
Based on the above criteria, the exchange removes tokens and trading pairs that do not meet liquidity and trading volume thresholds. The exchange claims these measures protect users and maintain a high-quality trading environment.
“When a currency or token no longer meets these standards or the industry landscape changes, we conduct a deeper review and may delist it. Our top priority is ensuring we provide the best possible service to our users and protection, while continuing to adapt to changing market dynamics,” Binance explain.
Against this backdrop, leading exchanges have committed to delisting trading pairs for Kaon’s power tokens AKRO (formerly Akropolis), Bluezelle (BLZ) and WazirX (WRX). Specifically, the exchange will delete and automatically terminate orders for the following trading pairs:
- Akro/USDT
- BLZ/Bitcoin,
- BLZ/USDT, and
- WRX/USDT
In addition, Binance also stated that after the delisting, the valuation of the token will no longer be displayed in users’ wallets. Deposits of these tokens will not be credited to user accounts for 24 hours after their official delisting. Users will only be able to withdraw the affected tokens from Binance before 03:00 UTC on February 25, 2025.
Following this announcement, AKRO, BLZ, and WRX token prices fell by double digits, ranging from 11% to 48%. This result reflects the impact of the token being delisted from major exchanges.
Considering the history of token delisting announcements on Binance often results in volatility. For example, Binance delists six altcoins The month of August resulted in a significant drop in the prices of these cryptocurrencies. especially, Power Pool (CVP) and Ellipsis (EPX) Immediately after the delisting was announced, the stock price fell by 14% and 22%.
Likewise, in late November, Binance announces delisting altcoins As a result, the prices of GFT, IRIS, KEY, OAX, and REN plummeted. This result is consistent with Listing announcementwhich often leads to a surge in related tokens.
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