Categories: Altcoin News

Binance Delisting Bytecoin, ChatCoin, Iconomi, & Triggers in 3 Days, Price in Deep Red

Binance has announced the delisting of Bytecoin (BCN), ChatCoin (CHAT), Iconomi (ICN), and Triggers (TRIG) citing a number of reasons for the same and claiming to continue performing periodic reviews, that has these coins and tokens go red to as much as 40%.

BCN, CHAT, ICN, & TRIG getting delisted from Binance

Today, Binance, one of the biggest and popular crypto exchange with a daily trading volume of $875.9 announced the delisting of 4 coins viz. Bytecoin (BCN), ChatCoin (CHAT), Iconomi (ICN), and Triggers (TRIG).

Binance announces:

“In order to protect our users, the Binance team conducts comprehensive and periodic reviews of each digital asset listed on our platform to ensure projects maintain a high standard of quality. In the event a coin or token falls below this quality standard, it will be subject to further review and potentially delisted.”

Talking about the reasons for the same, the announcement further reads, “For public transparency, we would like to disclose some factors that inform our decision to delist digital assets.

  • Commitment of team to project
  • Quality and level of development activity
  • Network / smart contract stability
  • Level of public communication and activity
  • Responsiveness to our periodic due diligence
  • Evidence of unethical/fraudulent conduct
  • Contribution to a healthy and sustainable crypto ecosystem”

Also, read: Binance Coin [BNB] moves to 14th position pushing Neo to 15th in terms of market cap

Delisted coins & tokens go deep in red

Now, on the basis of this criteria, they stated “we have decided to delist and cease trading on all trading pairs” at 2018/10/12 10:00 AM (UTC). However, withdrawals will continue to be supported until 2018/11/12 10:00 AM (UTC).

In order to build an ecosystem that promotes “transparency and long-term, sustainable growth,” Binance concludes with, “Going forward, we remain committed to protecting our users and all Binance stakeholders and will continue to perform periodic reviews of all listed coins and tokens.”

The news of delisting resulted in the loss of value as the prices took a drop. At the time of writing, Bytecoin (BCN) of 30th rank has been falling by 20 percent at $0.0017 while ChatCoin (CHAT) is down by 23 percent at $0.0172.

The one with the biggest losses is Triggers which is in the red by about 39 percent at $0.1923. Whereas, Iconomi (ICN) is the least affected one at $0.3540 while being 9 percent down but it is also continuously dropping.

Anjali Tyagi

Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.


Recent Posts

  • Altcoin News
  • News
  • Regulation News

Crypto Exchange Huobi Restricts Derivatives Leverage Trading to Less Than 5x in China

With China's recent crackdown on crypto trading, crypto exchange Huobi is introducing further restrictions on…

8 hours ago
  • Press Release

Metis Launches Beta Testnet, Ecosystem Development Program

TORONTO, June 16, 2021 - Ethereum Layer 2 protocol Metis launched its second network testnet, setting…

9 hours ago
  • Press Release

AAX Reserves $10M to Bring Lucrative Opportunities to the Solana Community

SINGAPORE, June 16, 2021 — AAX, an institutional-grade cryptocurrency exchange powered by the LSEG Millenium…

11 hours ago
  • Bitcoin News
  • News

Bitcoin (BTC) Whale Accumulation Continues, Millionaire-Tier Holds ~50% of Total Supply

Before its recent move above $40,000, Bitcoin (BTC) has been consolidating for a while in…

13 hours ago
  • Press Release

Ethernity CLOUD Presale Sells Out in Response to Increased Demand

Blockchain-based decentralized confidential computing network, Ethernity CLOUD is announcing the successful sale of its native…

10 hours ago
  • News
  • Regulation News

Breaking: Twitter Faces Criminal Liabilities for Third Party Content In India

Twitter has lost its intermediary status in India for failing to comply with the latest…

16 hours ago