Every coin that was delisted was not innocent, whether it was $OMG or $WAVES, which were hotly speculated by fans in the secondary market, it was not unexpected. This article will take a closer look at the main reasons for Binance to delist these tokens. At the same time, I also found other tokens that are at risk of being delisted. If you hold these tokens, you should be careful.
#AKRO#QTUM#NEO#XTZ#STPT#BADGER#CRV
We already know that Binance recently announced the delisting of $OMG, $WAVES, $WNXM, and $XEM tokens, mainly triggering the following considerations: team commitment, project level and quality, trading volume and liquidity, network/smart contract stability, community maintenance, fraudulent behavior, new regulatory requirements, contribution to the blockchain, and enthusiasm for responding to reviews. Now let’s take a look at what clauses they have violated:
$OMG, also known as the model coin, once had numerous halos: one of the earliest ICO projects, supported by the Thai Ministry of Finance, a top-level project in 2017; Vitalik Buterin served as a project consultant; it was ranked in the top 50 in market value in the last bull market, and its performance was very strong at the time. Beauty fades with time, and even the most popular top star will fall from the altar and never recover if she loses her admirers.
This is not the first time that OMG has been delisted from an exchange. In March 2023, Coinbase announced the suspension of $OMG trading. The delisting should have aroused some vigilance from OMG, but the project team did not make any active construction on the project after the delisting. As expected, in November 2023, OMG’s official Twitter account announced that the project team had left the project, and OMG has since become a community-autonomous token.
Technically, the original OMG project has withdrawn from the project as a whole, and the project has been completely self-governed by the community. From then on, the project will no longer be updated technically, and the project can no longer fulfill its original promise. How can a tree without roots thrive? At the same time, OMG has given up on official website construction, Twitter operations, and community maintenance, and does not do any maintenance or updates. The degree of laziness is outrageous! If a conscientious exchange encounters such an irresponsible project, it must be removed from the shelves, otherwise how can it be worthy of tens of millions of users?
So it is inevitable to take it off the shelves. I want to praise it here.
And #Coinbase, for thinking about their users, well done! At the same time, I also found that $AKRO has not had any technical updates for a long time, and the project team is no longer working. When you see such a project, be careful! It will definitely be the next one to be delisted.
$XEM, the new currency, is an ICO project. The goal of the project is to create a new set of digital currency and its ecosystem. In the last bull market, it doubled 8 times. Since two years ago, the project has gradually stopped major technical updates, and some recent updates are insignificant. At the same time, the maintenance and construction of the official community was stopped two years ago, and the Twitter operation was stopped about a year ago. XEM's ideal of a new digital currency can no longer be dreamed of, and it may die. The total market value of XEM has shrunk by 40%, and the current FDV is worth about 190 million US dollars.
$WAVES, Wavecoin, is the largest public chain ICO project in Russia and the third largest blockchain crowdfunding project in 2016. During the Russian-Ukrainian conflict, WAVES was bought by Russian investors as a safe-haven asset, and the price soared sharply, soaring 6 times in more than a month. WAVES also had a complete stablecoin system and a complete public chain ecosystem, and had many collaborations with Russian offline enterprise-level and industrial-level assets.
Compared with the passive work of the first two projects, WAVES has obviously worked much harder. In August last year, the founder officially announced the launch of the L2 network. The community and Twitter officials are also actively operating it. The project party has been working hard, so why was it taken off the shelves?
In fact, WAVES is flashy and not practical, with only about 10,000 transactions processed every day. For a public chain, it is really sparse and not enough to support such a big sign. If you don’t have the diamond drill, don’t take the porcelain job. Other public chain projects that have taken money but did not do the work are also in danger of being delisted, including $QTUM, $NEO, and $XTZ. If you hold such tokens, be careful. I have discovered their more detailed tricks. Don’t think that holding is a long-term plan to catch big fish. In fact, once there is bad news, the green leeks will be cut again.
$WNXM, a protocol built on Ethereum, provides project members with insurance, underwriting, claim assessment and risk management business infrastructure. The idea of WNXM is very beautiful: members can help each other freely, contribute to the protocol, share the risks of the protocol, share the risks of other members, and make the protocol grow and develop to get the benefits brought by the protocol. Who would be willing to work for such a big project that wants cows to work but does not let them eat grass?
The market waits for no one. Instead of putting your money in this and suffering, it is safer and more appropriate to rush for the hot blue chips. Similar DeFi protocol tokens include $STPT and $BADGER, which have also been in the name of DeFi for several years without doing anything and have not brought actual profits to users. Friends who hold such tokens should be careful. It is better to speculate on new things than old ones. The old DeFi has gone, and if it does not sprout new buds, it will die!
Looking at today's hot spots, the loan positions of the founder of CRV were liquidated, with a total of about 100 million $CRV, worth about 27 million US dollars. CRV fell to a record low, and many large orders were directly buried. Friends who hold coins are really suffering. It's another day to pay for the founder! Every time the founder of CRV is short of money, he sells coins. This liquidation also caused a sharp increase of 78% of CRV tokens in the market, and also increased panic selling. The founder has been confused and irresponsible for many times. Such a founder and such a dragging project, I believe it will soon enter the new watch list and become a new delisting target!
The dust has settled on the officially announced tokens, and there is no need to speculate on them anymore. I hope you have successfully avoided these big unscrupulous projects. However, the $AKRO, $QTUM, $NEO, $XTZ, $STPT, $BADGER and $CRV mentioned above are all under observation risk. If their names appear in the delisted tokens announced by Binance one day, I have no doubt that they will be the ones to be delisted.
If you think it makes sense, please give me a thumbs up.
