Binance’s Altcoin Apocalypse: What You Didn’t Know Could Hurt You! 😱

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In a move that can only be described as a digital execution, Binance has decided to delist four altcoins from its product suite on Monday, sending the affected tokens into a tailspin that would make even the most seasoned rollercoaster enthusiast queasy. 🎢

Mark your calendars, folks! This delightful little action will take effect on February 24 at 03:00 UTC, as Binance attempts to enhance market quality—because who doesn’t love a good quality enhancement, right? 🙄

Four Altcoins Queued for Binance Delisting

In a blog post that surely had the affected tokens shaking in their digital boots, Binance announced plans to delist and cease trading on all spot trading pairs for four tokens. Spoiler alert: it’s not a happy ending.

“…we have decided to delist and cease trading on all spot trading pairs for the following token(s) at 2025-02-24 03:00 (UTC): AirDAO (AMB), CLV (CLV), StormX (STMX), and VITE (VITE),” Binance said, probably while sipping a latte and enjoying the chaos.

The trading pairs slated for removal are AMB/USDT, CLV/BTC, CLV/USDT, STMX/TRY, STMX/USDT, and VITE/USDT. Following this announcement, most of the tokens recorded double-digit losses—because nothing says “I love you” like a good old-fashioned market crash. 💔

But let’s not act surprised! The price implications of token delistings on popular exchanges are as predictable as a cat video going viral. For instance, Binance’s removal of six altcoins in August led to substantial price drops, proving once again that what goes up must come down—especially if you’re a cryptocurrency. 📉

Specifically, PowerPool (CVP) and Ellipsis (EPX) saw 14% and 22% declines immediately after their delisting announcements. It’s like watching a slow-motion train wreck, but with more zeros. Similarly, a recent Binance delisting announcement in December sent three altcoins into free fall, mirroring the latest turnout. Talk about déjà vu! 😅

Conversely, token listings on popular exchanges like Binance and Coinbase inspire price surges. As BeInCrypto reported, the Coinbase exchange’s recent move to list POPCAT and PENGU inspired double-digit gains for the tokens. Who knew cats and penguins could be so lucrative? 🐱🐧

What Binance Users Should Know

The Binance delisting announcement is part of the exchange’s occasional move to review the performance of its listed trading pairs. They analyze elements such as the level and quality of development activity—because apparently, that’s a thing. They also assess the network and smart contract stability, which sounds fancy but really just means they’re checking if everything is still working. 🔍

all trade orders for the tokens marked for delisting will be removed after trading ceases on February 24. It’s like a digital spring cleaning, but without the satisfaction of throwing out old clothes. 🧹

This means the token’s valuation will no longer be displayed in users’ accounts after delisting. Further, deposits of these tokens will not be credited to users’ accounts starting February 25. On the same note, withdrawals of these tokens from Binance will not be supported after April 24. Instead, delisted tokens could be converted into stablecoins automatically starting April 25. Because who doesn’t love a good conversion? 💸

Binance also stated that this delisting action would affect perpetual contracts for AMB and STMX starting February 21 at 09:00 UTC. This means traders holding open positions for these futures contracts should consider closing them before the delisting time to avoid automatic settlement. It’s like a game of musical chairs

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2025-02-17 12:46