2018-10-10 14:00 |
Binance has removed four digital currencies from its listing which has left them crashing down in the ranks.
As of yesterday, 9th October, one of the biggest and most popular cryptocurrency exchanges from around the world, Binance has announced that four tokens are going to be removed from the platform until further notice. The announcement was made yesterday morning on the exchange’s website and stated that because of the team behind Binance dedication for the protecting users, ChatCoin (CHAT), Iconomi (ICN), Bytecoin (BCN) and Triggers (TRIG) will be delisted. Most of the coins in question have since seen a massive drop after the announcement of the news.
The team at Binance takes a look into the reviews of digital asset listed on the platform on a regular basis to make sure that their dedication for keeping their clients safe is well informed.
According to Binance, they perform in-depth reviews or de-list certain tokens and coins which have fallen below a certain level of quality. Essentially, if it isn’t good enough it’s out the door. By doing this, Binance can attain the quality of coins they want which are on the exchange.
Crashing down
With major cryptocurrency exchanges like Binance, when they announce they are delisting certain coins, we quite often see them drop massively. This is further evidence of how tight cryptocurrencies are to their listings on the big exchanges.
Since the announcement, ChatCoin has been hit hard with a 30% crash and is now trading at $0.016 per coin. Binance market pairs with ChatCoin accounted for $4.9 million of the $7.54 million trading volume of the coin over the past day.
Inconomi has dropped by around 9% since the de-listing and is trading at $0.36. Binance market pairs with ICN accounted for $1.25 million of the $1.65 million trading volume of the coin over the past day.
Bytecoin was stuck with a 22% drop since it was revealed it was going to be delisted. It is now trading at $0.017, Binance market pairs with BCN accounted for $10.85 million of the overall $18.73 million trading volume for the coin over the past day.
Triggers saw an astounding 49% drop since the announcement and it trading at $0.115. Market pairs with Trigger received everything of the $9.82 million trading volume of the coin over the past day.
What are your thoughts? Let us know what you think down in the comments below!
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