TL;DR

• Binance will delist six altcoins, leading to significant price drops for these assets.
• Such efforts have historically triggered sharp price crashes due to various reasons such as reduced liquidity and market panic.

The Latest Update

The world’s largest cryptocurrency exchange periodically reviews each digital asset listed on its platform to ensure that it “continues to meet a high level of standard and industry requirements.” 

“When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it. Our priority is to ensure the best services and protections for our users while continuing to adapt to evolving market dynamics,” it explained.

The company takes various factors into consideration, such as commitment of team to project, trading volume and liquidity, level and quality of development activity, stability of networks from attacks, and more.

Following the latest reviews, it decided to suspend all operations with six altcoins. Namely, those are PowerPool (CVP), Ellipsis (EPX), ForTube (FOR), Loom Network (LOOM), Reef (REEF), and VGX Token (VGX). The delisting will come into effect on August 26. 

“The exact trading pairs being removed are: CVP/USDT, EPX/USDT, FOR/BTC, FOR/USDT, LOOM/BTC, LOOM/TRY, LOOM/USDT, REEF/TRY, REEF/USDT, VGX/USDT. All trade orders will be automatically removed after trading ceases in each respective trading pair,” Binance explained.

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