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Binance suddenly delisted six cryptocurrencies, causing market shock

On August 26, 2024, Binance made a sudden decision to remove six cryptocurrencies from its trading platform. The reason for this move was that these currencies failed to meet the strict standards set by Binance. The delisted currencies include PowerPool (CVP), Ellipsis (EPX), ForTube (FOR), Loom Network (LOOM), REEF (REEF) and VGX Token (VGX). After the news came out, the prices of these currencies suffered a sharp drop in just one day, ranging from 14% to 40%.

Market maintenance under high standards

Binance has always been known for its high standards for evaluating listed cryptocurrencies. These criteria cover aspects such as team commitment, trading volume, and network security. When a cryptocurrency no longer meets these strict standards, Binance will choose to delist it to protect its users and maintain a stable trading environment.

Market volatility and adaptation

This is not the first time Binance has delisted a cryptocurrency, and such a move often causes volatility in the market. Therefore, it is particularly important for investors and traders to keep an eye on market dynamics and adapt to changing market conditions.

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