Giant Bitcoin and cryptocurrency exchange Binance is delisting 4 altcoin projects. The exchange announced that it will remove DLT, GVT, SKY and POA from its platform. After the Delist news, altcoin prices crashed. cryptocoin.com We have compiled the details for you, let’s examine the subject together…
Binance is delisting 4 altcoin projects!
Leading Bitcoin and cryptocurrency exchange Binance is delisting 4 altcoin projects. The stock market made the following statement on the subject:
At Binance, we periodically review each coin we list to ensure it continues to meet the high standard we expect. When a cryptocurrency or token no longer meets this standard or the industry changes, we do a more in-depth review and potentially remove it from the list. We believe this best protects all of our users. We take several factors into account when conducting these reviews. Based on our most recent reviews, we have decided to remove and stop trading on all trading pairs for the following tokens on 05/11/2021: Agrello (DLT), Genesis Vision (GVT), Skycoin (SKY) and POA (POA). Risk warning: Cryptocurrency trading is subject to high market risk. Please do your transactions carefully. Binance will do its best to select high-quality cryptocurrencies, but will not be liable for your trading losses.
In the continuation of Binance statements, he drew attention to important details about the delisted cryptocurrencies:
- The exact trading pairs that have been removed are: DLT/BTC, GVT/BTC, SKY/BTC, and POA/BTC.
- All trade orders will be automatically removed after trading stops on each respective trading pair.
- To view your assets after trading has stopped, please make sure you do not select “Hide small assets” on your Funds page.
- Depositing these cryptocurrencies after 05.02.2022 will not be reflected in your account.
- Withdrawal of these coins and/or tokens from Binance will continue to be supported until 05.05.2022.
Why did Binance delist these altcoin projects?
Binance also explained why it delisted these altcoin projects and listed the factors it considered in the evaluation:
- The team’s commitment to the project
- Level and quality of development activity
- Trading volume and liquidity
- Network stability and security against attacks
- Network/smart contract stability
- Public communication level
- Respond to our periodic due diligence requests
- Evidence of unethical/dishonest behavior or negligence.
- Contribution to a healthy and sustainable crypto ecosystem
After the Delist news, altcoin prices crashed!
After the Delist news, altcoin prices crashed. Agrello (DLT) fell 27 percent. Genesis Vision (GVT) fell 51 percent. Skycoin (SKY) crashed 30 percent. POA (POA) fell 45 percent.
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