Binance delisting announcement causes 3 altcoins to plummet

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This measure will take effect on December 25 at 03:00 UTC and reflects Binance's efforts to improve market quality.

What Binance users need to do

Binance will periodically review the performance of its listed trading pairs, analyzing various factors to decide on listing and delisting actions. Binance will assess factors such as the team's commitment to the project, the level and quality of development activity, and the stability of the network and smart contracts.

Based on the above criteria and other standards, the exchange will remove tokens and trading pairs that do not meet liquidity and trading volume thresholds. The exchange claims that these measures protect users and maintain a high-quality trading environment.

In this context, leading exchanges have committed to delisting the power token AKRO (formerly known as Akropolis), Bluezelle (BLZ), and WazirX (WRX) trading pairs. Specifically, the exchange will delete and automatically terminate the orders for the following trading pairs:

AKRO/USDT, BLZ/BTC, BLZ/USDT, and WRX/USDT.

In addition, Binance has also made it clear that once the tokens are delisted, their valuation will no longer be displayed in users' wallets. Deposits of these tokens will not be credited to user accounts within 24 hours after the official delisting. Users can only withdraw the affected tokens from Binance before February 25, 2025, at 03:00 UTC.

After the announcement, the prices of AKRO, BLZ, and WRX tokens immediately dropped by double digits, with declines ranging from 11% to 48%. This result reflects the impact of major exchanges delisting tokens.

This is not surprising, as Binance's token delisting announcements have historically led to volatility. For example, Binance delisted six altcoins in August, causing significant price drops for those cryptocurrencies. Notably, PowerPool (CVP) and Ellipsis (EPX) dropped immediately by 14% and 22% after the delisting announcement was made.

Similarly, at the end of November, Binance announced the delisting of altcoins, resulting in a sharp price drop for GFT, IRIS, KEY, OAX, and REN. Such results stand in stark contrast to listing announcements, which typically lead to soaring prices for the related tokens.

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