Binance Delists This Crypto Causing 40% Price Crash, Here’s All

Crypto exchange Binance has recently revealed plans to delist a specific spot trading pair for the VIDT crypto, causing its price to plunge nearly 40% in just a day. The exchange revealed in an official announcement this Tuesday that it will delist the VIDT/BTC trading pair shortly, pushing investors to take a cautious approach while trading the asset.

Binance To Delist VIDT/BTC: Here’s The Timeline

According to an official Binance announcement dated April 15, the VIDT/BTC trading pair will be delisted at 08:30 UTC. The decision to delist this trading pair comes as the crypto exchange looks to protect its users from emerging market risks while also ensuring a high-quality trading experience.

Per the announcement, the spot trading pair mentioned above is being delisted after a thorough periodic review by the exchange. The VIDT/BTC trading pair reflects concerning factors, such as poor liquidity and trading volume, among other reasons that pose a risk to users.

In turn, usual market sentiments remain highly bearish in light of such delistings on one of the top crypto exchanges. Besides, it’s noteworthy that this delisting was initially scheduled to take place on April 16. However, Binance pre-poned the delisting, which caused a sudden shock to traders as the coin’s price promptly crashed severely.

As of press time, VIDT price saw a steep fall of roughly 38%, closing in at $0.001838. The DAO-based token fell from a high of $0.003024 in the past 24 hours. This price drop reflects market uncertainty in the wake of one of the top crypto exchanges delisting the crypto.

Meanwhile, it’s also worth pointing out that Binance offered clarity on OM price crash by revaling a statement recently. CoinGape reported that the crypto exchange titan blamed massive cross-chain liquidations as the primary reason for Mantra’s 90% price crash on Monday. The price crash in turn caused massive liquidations and OM selling, whilst the project also faced rug pull allegations.