Binance Announces New Delistings, Sends Prices of 6 Altcoins Crashing

Binance's delisting of 6 cryptocurrencies caused sharp price drops, with some falling by over 20%.

The affected pairs will be delisted on August 26, 2024, and deposits will not be credited after August 27.

Withdrawals allowed until November 26, 2024, after which tokens could be converted into stablecoins.

Binance, one of the world's largest cryptocurrency exchanges, has announced the delisting of six altcoins. The affected altcoins—PowerPool (CVP), Ellipsis (EPX), ForTube (FOR), Loom Network (LOOM), Reef (REEF), and VGX Token (VGX)—saw sharp price drops, each dropping by double digits immediately following the announcement.

Historically, the announcement about the listing/delisting of altcoins on Binance has had a significant impact on their prices.

Users must take action before Binance delists altcoins

Effective August 26, 2024, at 03:00 UTC, Binance will remove all

spot trading pairs for some tokens.

The affected pairs include CVP/USDT, EPX/USDT, FOR/BTC, FOR/USDT, LOOM/BTC, LOOM/TRY, LOOM/USDT, REEF/TRY, REEF/USDT, and VGX/USDT. Afterwards, the exchange will automatically cancel all existing trading orders.