Binance Shakes Up Crypto Market with Surprise Delisting of 6 Altcoins
In a sudden move, Binance removed six cryptocurrencies from its platform on August 26, 2024, citing failure to meet strict standards. The delisted coins - PowerPool (CVP), Ellipsis (EPX), ForTube (FOR), Loom Network (LOOM), REEF (REEF), and VGX Token (VGX) - suffered significant price drops, ranging from 14% to 40% in just one day.
Binance regularly evaluates listed cryptocurrencies to ensure they meet high standards, including team commitment, trading volume, and network security. If a cryptocurrency no longer meets these standards, it's removed to protect users and maintain a stable trading environment.
This isn't the first time Binance has delisted cryptocurrencies, a move that often causes market volatility. Stay informed and adapt to changing market conditions!