Binance drops a bombshell: six major tokens are suddenly removed from the platform
On August 26, 2024, Binance suddenly announced that it had removed six cryptocurrencies from the platform on the grounds that they did not meet strict standards. The six currencies are PowerPool (CVP), Ellipsis (EPX), ForTube (FOR), Loom Network (LOOM), REEF (REEF) and VGX Token (VGX). This removal caused their prices to plummet in one day, some by 14%, and some even by 40%!
Binance regularly reviews the cryptocurrencies on it to see if they still meet high standards, such as the reliability of the team, the size of the trading volume, and the security of the network. If a currency no longer meets the standards, Binance will remove it to protect users and maintain a stable trading environment.
This is not the first time Binance has done this. Every withdrawal of coins will cause considerable market fluctuations. So, everyone must stay vigilant, keep abreast of market trends, and respond flexibly!
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