Giant Bitcoin and cryptocurrency exchange Binance is delisting 5 altcoin projects. The exchange announced that it will remove BCD, CND, MTH, NCASH and YOYO from its platform. After the Delist news, altcoin prices crashed. As Kriptokoin.com, we have compiled the details for you, let’s examine the subject together…
The giant Bitcoin exchange Binance is delisting 5 altcoin projects!
Pioneering Bitcoin and cryptocurrency exchange Binance delists 5 altcoin projects. On Binance, we periodically review every coin we list to ensure it continues to meet the high standard we expect. When a coin or token no longer meets this standard or the industry changes, we do a more in-depth review and potentially remove it from the list. We believe this best protects all of our users. We take several factors into account when conducting these reviews. Based on our most recent reviews, we have decided to remove and discontinue trading on all trading pairs for the following tokens on 08/03/2022: Bitcoin Diamond (BCD), Cindicator (CND), Monetha (MTH), Nitro Network (NCASH) and YOYOW (YOYO). Risk warning: Cryptocurrency trading is subject to high market risk. Please do your transactions carefully. Binance will do its best to select high-quality cryptocurrencies, but will not be liable for your trading losses.
Binance drew attention to important details about the delisted cryptocurrencies in the continuation of their statements:
- The full trading pairs removed are: BCD/BTC, CND/BTC, MTH/BTC, NCASH/ETH and YOYO/BTC.
- All trade orders will be automatically removed after trading stops on each respective trading pair.
- To view your assets after trading has stopped, please make sure you do not select “Hide small assets” on your Funds page.
- After 09.03.2022, these tokens will not be credited to your account.
- Withdrawal of these cryptocurrencies and altcoin projects from Binance will continue to be supported until 09.06.2022.
Why did Binance delist these cryptocurrencies?
Binance also explained why it delisted these altcoin projects and listed the factors it took into account in the evaluation:
- Project commitment of the team
- Level and quality of development activity
- Transaction volume and liquidity
- Network stability and security against attacks
- Network/smart contract stability
- Public communication level
- Response to our periodic due diligence requests
- Evidence of unethical/dishonest behavior or negligence.
- Contribution to a healthy and sustainable crypto ecosystem
Altcoin prices suddenly dropped with Binance’s delist news
Altcoin prices suddenly fell with Binance’s delist news. Cindicator (CND) fell 30 percent, Nitro Network (NCASH) fell 22 percent and YOYOW (YOYO) fell 25 percent. Monetha (MTH) and Bitcoin Diamond (BCD) are also trading on the redboard at the time of writing.
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