There was a decrease of up to 50 percent in the four cryptocurrencies listed by Binance.
Binance has a large share in the most devalued cryptocurrencies of the day. Binance announced that it has delisted four cryptocurrencies.
In an announcement published during the day, Binance announced that it had delisted WTC and BTS, cryptocurrencies well known to the old people. Binance also delisted TORN and PERL.
They literally melted due to the Delist effect: They fell by nearly 50 percent!
BitShares (BTS) and Waltonchain (WTC), which have existed in the crypto market for a long time, dropped by nearly 50 percent with Binance’s delist decision.
Additionally, Tornado Cash (TORN), which is known as a privacy project and has previously had problems with the USA, and DeFi project Perlin (PERL) were also delisted.
Four cryptocurrencies reached high volatility after the delist news. Cryptocurrencies, which were purchased with the eye of a potential rise due to their low market value and had many investors before, faced heavy sales pressure after the news.
After the Delist news, WTC volume increased by 287 percent in the last 24 hours, reaching 8.4 million dollars. WTC price decreased from $0.17 to $0.095. BTS’s transaction volume increased by 600 percent in the last 24 hours, reaching 5 million dollars. BTS dropped by nearly 50 percent to $0.005.
On the other hand, PERL transaction volume increased by 426 percent in the last 24 hours, while TORN transaction volume increased by 750 percent in the last 24 hours.
Trading volumes in all four cryptocurrencies were driven by sales intensity. Investors virtually abandoned the projects after the delist news.
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