Binance far 4 Altcoins, Bytecoin falls by 20% – Other crypto exchanges “spaces” on
Home News Binance far 4 Altcoins, Bytecoin falls by 20% – Other crypto exchanges “spaces” on
Marcus Misiak –
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has announced that it will remove four Altcoins of your platform. Binance has announced to remove Bytecoin (BCN), ChatCoin (CHAT), Iconomi (ICN) and Trigger (TRIG) of the stock exchange. Users of the stock exchange, have one of these Altcoins that have up to 12. November is time to transfer your funds to another exchange or Wallet.
“The Binance Team carries out regular Checks in the interests of consumer protection for all crypto-currencies, which are listed on the stock exchange. These Checks ensure that all projects exhibit a high standard of quality. Should a Coin or a Token, this quality standard is not reached, it will be further reviewed and may be removed“,- stated in the press release of Binance.
Specifically, the Binance investigating Team, the following factors: the team’s commitment to the project, the quality and level of development activities, network /Smart Contract-stability, Level of public communication and activity, reaction ability on the regular Due Diligence, the detection of unethical / fraudulent behavior, contributing to a healthy and sustainable crypto-Ecosystem.
On the basis of at least one of these factors Binance has now decided to remove Bytecoin (BCN), Iconomi (ICN),Trigger (TRIG) and ChatCoin (CHAT) of the stock exchange. In particular, Bytecoin, one of the oldest crypto currencies to Bitcoin, stands out from the list. Bytecoin was created in 2012 with the aim of creating a Privacy-Coins. In 2014 Monero from Bytecoin split off.
In the Wake of the announcement, the four Altcoins have experienced significant price declines. BCN decreased by 20 % (rank 30), ICN 8 % (Ranf 139), CHAT 35 % (rank 335), and TRIG, lost as much as 47 % (496) of its value.
Other crypto currency exchanges “spaces” on
Already at the beginning of the year, Bittrex has caused a great stir, as it had removed 82 Altcoins on the exchange. Only a few days ago, Bittrex has announced again to delisten Bitcoin Gold (BTG), Bitshares (BTC) Bitcoin (BTCP) of the stock exchange. Users of the exchange have until 05. November is time to remove your funds from the stock market.
Poloniex said in a statement at the end of Spetmber, that it would remove the bitcoin dark (BTCD), Bitmark (BTM), Einsteinium, (EMC2), Gridcoin (GRC), NeosCoin (NEOS), PotCoin (POT), VeriCoin (VRC) and bitcoin plus (XBC). The decision took effect on 25. September.
Currently, Poloniex on 03. October announced to delisten the three Altcoins Gnosis (GNO), Synereo (AMP) and Expanse (EXP) on your platform.
From our, it is the removal of all of these currencies from the different exchanges to a (positive) side-effect of the ongoing Bärenarktes. Projects that are not successful will be sorted out by competition in the cryptocurrency market. Similarly, as in the Dotcom Era will only be allowed to enforce the really innovative and powerful projects in the crypto currency market in the long term.