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Massive Price Drops for These Altcoins After Binance Withdraws Support

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TL;DR

  • Binance unveiled its next delisting effort, causing an immediate market fallout for the involved digital assets.
  • In contrast, tokens gaining support from the exchange usually experience strong rallies, highlighting the platform’s powerful influence over short-term price action.

These Assets Take a Blow

The world’s leading crypto exchange periodically reviews each asset listed on its platform to determine whether it meets quality, safety, or market relevance standards. Based on its recent examination, it decided to terminate all trading services with Alpaca Finance (ALPACA), PlayDapp (PDA), Viberate (VIB), and Wing Finance (WING). 

The delisting is scheduled for May 2, when all sport trading pairs involving the aforementioned tokens will be removed. 

“The token’s valuation will no longer be displayed in users’ accounts after delisting. To view their assets after trading ceases, users should ensure they have not selected “Hide Small Balances” in all (of) their accounts,” the company clarified.

Binance explained that deposits involving these assets will not be credited to users after May 3, whereas withdrawals will become unavailable from July 4. 

“Delisted tokens may be converted into stablecoins on behalf of users after 2025-07-05 03:00 (UTC). Please note that the conversion of delisted tokens into stablecoins is not guaranteed,” the disclosure reads. 

Somewhat expectedly, the news triggered a major price decline for the affected cryptocurrencies. VIB and WING crashed by 42% and 36%, respectively, while ALPACA and PDA witnessed less substantial plunges. 

Reactions of that type are something normal. After all, withdrawn support from Binance leads to reduced liquidity and visibility. It can also trigger fear and uncertainty by damaging their reputation, prompting increased selling pressure. 

A similar thing was observed earlier this month when the exchange scrapped 14 altcoins from its platform. Some of the affected ones, including CREAM, recorded a whopping decrease of almost 60% after the announcement. 

The Pumping Effect

Conversely, embracing a certain cryptocurrency in one way or another from Binance often results in a significant rally. Such was the case with DeepBook (DEEP), whose price jumped by double digits earlier this week after the trading venue launched the DEEP/USDT perpetual contract with up to 50x leverage. 

Other examples include Cat in a Dogs World (MEW), whose valuation headed north after the company placed it in its pre-listing selection pool, Binance Alpha, and Tutorial (TUT), which skyrocketed by 130% following inclusion in the Binance Simple Earn section.

게시물 Massive Price Drops for These Altcoins After Binance Withdraws Support 에 처음 등장 크립토포테이토.

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