We remind you that tomorrow Binance will delist CVP, EPX, FOR, LOOM, REEF, VGX tokens.
All trading orders will be automatically deleted after trading stops.
Withdrawal of these tokens from Binance will not be supported after 03:00 (UTC) 26.11.2024.
Delisted tokens MAY be converted to stablecoins on behalf of users after 2024-11-27 03:00 (UTC). BUT conversion of delisted tokens to stablecoins is NOT guaranteed. A separate notification will be made before conversion where applicable, and stablecoins will be credited to users' Binance accounts after conversion.
Among these assets, we only had #LOOM. And in April, it was a very correct decision to go almost to breakeven after the pump idea worked only at +21.79%. We wrote both when opening and closing the deal that we were not interested in the asset as an investment. And that means we will not sit out the drawdowns in the bull market in it.
We know that at least one of our readers did not sell then. And the question is what to do with the sagging asset - sell at a loss on the market or transfer to another exchange.
If you look at Trading View, the asset is traded on spot at least on #Bitget, #Gate, #Kucoin, #MEXC. Therefore, at least transferring it to make a decision later is possible.
The Loom Network project is currently raising some concerns:
- Fundamental problems. Loom Network has been around since 2018 and was one of the first projects to implement Layer 2 solutions to improve Ethereum scalability. Initially, Loom Network was positioned as a platform for creating scalable dApps based on Ethereum. But in recent years, the project has changed direction and focused on enterprise solutions. This change occurred after one of the founders left, which caused concern among part of the community. And led to the departure of some validators. Developer activity on the platform has significantly decreased. In short, this is another "old man" in crisis.
- Price manipulation: The sharp and strong growth of the#LOOMtoken price last fall without fundamental reasons caused reasonable suspicions of manipulation. We tried to ride on their continuation, but it did not work out. +21.79% was not the result we expected. Will there be new manipulations even if the project does not revive according to the fundamental picture? Who knows. BUT technically the price formed a correction of the entire pump in the ABC correction and came to the levels before the pump. So it can grow if the market allows and the chart is interesting. To begin with, it is necessary to at least consolidate above the EMA 50 of the daily TF. If the altseason comes, there may still be noticeable upward movements with the continuation of manipulations and a move to at least the area of ââ13-15 cents.
