Binance Delisting 3 Altcoins Sparks Double-Digit Price Drops

Binance, the world's largest crypto exchange by trading volume metrics, has announced the cancellation of three altcoins trading pairs.

This move, which is set to take effect on December 25 at 03:00 UTC, reflects Binance's efforts to improve market quality.

What should Binance users do?

Binance periodically reviews the performance of listed trading pairs, analyzing various factors to identify the listing and its actions. It evaluates elements such as the team's commitment to the project, the level and quality of development activity, and the stability of the network and smart contract.

According to the above, among other criteria, the exchange will remove signals and trading pairs that do not meet the liquidity and size limits. The exchange says these measures protect users and maintain a high-quality trading environment.

“If a coin or token does not meet these criteria or the industry landscape changes, we will conduct a more thorough review and may cancel it. Our priority is to provide better services and protection for our users as we continue to adapt to evolving market dynamics,” Binance said.

Against this backdrop, the leading exchange has decided to cancel trading pairs for the Kaon-powered token, AKRO (formerly Acropolis), Bluesle (BLZ) and WazirX (WRX). Specifically, the exchange will cancel and automatically terminate orders for the following trading pairs:

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

Binance also said that the value of tokens will no longer be reflected in users' wallets. Deposits of these tokens will not be credited to user accounts until 24 hours after their official withdrawal. Users only have until February 25, 2025, at 03:00 UTC to withdraw the affected tokens from Binance.

After this announcement, AKRO, BLZ, and WRX token prices were down between 11% and 48% in double digits. This result reflects the impact of token listings from major exchanges.

Considering the history of delisting tokens on Binance, it often leads to volatility, which is not surprising. For example, Binance's removal of six altcoins in August resulted in significant price drops for those cryptocurrencies. In particular, Power Pool (CVP) and Ellipsis (EPX) saw declines of 14% and 22% immediately after the announcement.

Similarly, in late November, Binance's announcement sent altcoins GFT, IRIS, KEY, OAX and REN prices plummeting. Such results are in clear contrast to detailed advertisements, which often raise the relevant symptoms.