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Binance has sparked heated discussions in the crypto community with its latest decision to delist five tokens. The move, announced on March 21, raises fears of a sharp decline in the affected assets. The tokens set for removal are AERGO, AirSwap (AST), BurgerCities (BURGER), Combo (COMBO), and Linear Finance (LINA). This decision underscores Binance’s influence in the market and the potential consequences of its actions.
Why Is Binance Delisting These Tokens?
According to Binance, periodic evaluations ensure that listed tokens meet industry standards. Projects that fail to meet these criteria face delisting. Binance cited several factors influencing its decision, including:
- Commitment from the project team
- Trading liquidity and volume
- Regulatory compliance
- Network security and stability
While Binance has not specified which criteria these tokens failed to meet, the decision has already impacted their market performance.
Timeline for the Delisting
Binance outlined a clear schedule for the delisting process:
- March 26 (06:00 UTC): Margin trading for the affected tokens will be disabled.
- March 27 (09:00 UTC): Binance Futures will close all positions and conduct automatic settlements for AERGOUSDT, COMBOUSDT, and LINAUSDT perpetual contracts.
- March 28 (03:00 UTC): Trading for AERGO, AST, BURGER, COMBO, and LINA will be halted.
- March 29: Deposits for these tokens will no longer be credited.
- May 27: Withdrawals will no longer be supported.
Market Impact and Token Performance
Following the announcement, the five delisted tokens witnessed significant price declines:
- AERGO dropped over 6% to $0.06845, with a trading volume surge of 43%.
- AST plummeted 28% to $0.03375, with an 88% spike in volume.
- BURGER saw a staggering 48% drop to $0.1127.
- COMBO declined 20%, while LINA slumped more than 32%.
The delisting has sparked concerns over investor losses and market liquidity. To address future delisting concerns, Binance plans to introduce a “Vote to Delist” feature, allowing the community to participate in such decisions. However, the five tokens in question will not be part of this initiative.
Also Read: Ethereum Whales Withdraw $28M from Binance as Price Fluctuates – What’s Next?
As Binance continues to enforce strict compliance measures, traders and investors remain watchful for further market shakeups.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
