These Altcoins Crash by Double Digits Following Delisting From Binance: Details

The world’s biggest cryptocurrency exchange periodically reviews each digital asset listed on its platform to ensure it maintains a high level of standards and industry requirements. Earlier today (October 29), it announced it will terminate all trading services for three altcoins that no longer meet the criteria. As expected, the announcement triggered massive volatility in the affected coins. The Binance Effect Based on its most recent reviews, the company decided to delist Flamingo (FLM), Kadena (KDA), and Perpetual Protocol (PERP). Operations involving these coins will no longer be available from November 12. “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. Deposits of these token(s) will not be credited to users’ accounts after 2025-11-13 03:00 (UTC). Withdrawals of these token(s) from Binance will not be supported after 2026-01-12 03:00 (UTC),” the company clarified. Such efforts usually have a negative effect on the prices of the involved cryptocurrencies, as they decrease liquidity, reduce visibility, and cause reputational damage. KDA took the biggest blow, with its valuation collapsing by nearly 30% on a daily scale to an all-time low of $0.04 (per CoinGecko’s data). PERP nosedived, too, posting a 15% loss. KDA Price, Source: CoinGecko FLM’s reaction, though, was rather surprising. The asset’s price exploded to a one-month high of $0.03 before slightly retreating to $0.02, representing a 25% pump for the past 24 hours. Usually, the trajectory of that type occurs when Binance embraces a new cryptocurrency, not when it ceases trading services for a previously-listed one. The Previous Cases Approximately a month ago, Binance launched the FLUID/USDT perpetual contract with up to 75x leverage. This is a type of product with no expiry date that allows users to speculate on the asset’s price with borrowed money without owning it. FLUID’s valuation skyrocketed by 55% shortly after the disclosure. Prior to that, the exchange introduced the STBL/USDT perpetual contract with up to 50x leverage. The price of the involved cryptocurrency exploded by nearly 500% following the news. The post These Altcoins Crash by Double Digits Following Delisting From Binance: Details appeared first on CryptoPotato.