Attention buyers! Binance will delist “these 6 coins” on 8/26
Binance, a well-known cryptocurrency exchange, announced on August 12 that it would delist 6 currencies and remove related trading pairs at 11 a.m. on August 26, Taiwan time. Since Binance is currently the exchange with the largest spot trading volume in the world, the prices of these coins were also greatly affected after the delisting news was made public.
The 6 coins that Binance will delist are:
PowerPool ($CVP): A governance protocol built on Ethereum that provides actively managed structured DeFi products
Ellipsis ($EPX): A decentralized stablecoin exchange on the BNB chain, emphasizing the advantages of low slippage and low fees.
ForTube ($FOR): DeFi protocol on BNB chain and Ethereum chain, providing crypto lending products.
Loom Network ($LOOM): The second layer expansion solution (Layer2) project uses the DPoS consensus mechanism to support decentralized applications (dApps) that require high expansion and interaction requirements.
Reef ($REEF): adopts the NPoS consensus mechanism and is compatible with the Layer1 public chain of the Ethereum Virtual Machine (EVM).
VGX Token ($VGX): A token issued by the cryptocurrency asset service platform Voyager, but it collapsed due to the bankruptcy of the crypto venture capital institution Three Arrows Capital and has been in bankruptcy protection proceedings for some time.
Binance stated in the announcement that the reason for delisting the currency is mainly to consider factors such as the team's commitment to the project, the level and quality of the project advancement, transaction volume and liquidity, as well as new regulatory requirements.
At 11 a.m. on August 26, the above-mentioned 6 tokens will stop trading and be removed from the shelves. After 11 a.m. on August 27, the above-mentioned tokens will not be credited to the Binance wallet. Fixed investment plan, guaranteed profit The token service will also stop the related services of the above tokens in sequence, and users can redeem or withdraw the plan in advance.
All six coins fell, with the worst drop exceeding 35%.
According to the compilation of the Japanese media "CoinPost", as of the morning of August 13, the above-mentioned six currencies have all fallen between 11% and 36%. Among them, ForTube ($FOR) has fallen by more than 35%, the most severe decline, while PowerPool ($FOR) has fallen more than 35%. $CVP) also fell by 30.91%.
"CoinPost" also pointed out that Binance's delisting announcement may also affect investors' trust in these six coins. In addition, the liquidity of these coins is already low. If you are still willing to hold these coins, you will not be able to hold them in the future. Be sure to pay attention to the relevant trends of the token team.
Source: CoinPost
Binance will delist “these 6 coins” on 8/26, and they all fell after the announcement
OKX has also recently delisted tokens listed on Jumpstart
Another well-known exchange, OKX, has recently announced that it will delist the spot trading pairs of seven cryptocurrencies: $MSN, $OMN, $REP, $EURT, $IGU, $PCI, $SLN, among which Meson Network ($MSN) has Listed on OKX’s new coin mining (Jumpstart) and listed on the exchange at the end of April.
Although Meson Network focuses on the recently popular decentralized physical infrastructure (DePIN) concept, it has not been favored by capital three months after its listing, and the currency price has fallen sharply. Kuai Dong, a senior blockchain practitioner, revealed that Sherlock Shi, the founder of the project, had ideals and ambitions at the beginning, but after receiving millions of dollars in financing, he became unwilling to contact the community.
Source: X
Senior blockchain practitioner Kuai Dong reveals information about the founder of Meson ($MSN)
However, Sherlock Shi later issued a message to clarify that he was frustrated with the decision made by OKX. The team is working hard to achieve goals and comply with the exchange's requirements. It is also working with the exchange to ensure that $MSN can trade normally in the future.
[Disclaimer] There are risks in the market, so investment needs to be cautious. Analysts' opinions are for reference only. Users should refer to more diverse indicators to judge whether to invest and consider whether any opinions, views or conclusions in this article are consistent with their specific circumstances. Invest accordingly and do so at your own risk.