Binance Sends Four Coins Plunging with Decision to Delist Them

Binance, one of the leading cryptocurrency trading platforms, has decided to delist four virtual coins – Bytecoin (BCN), ChatCoin (CHAT), Iconomi (ICN), and Triggers (TRIG) – as they do not meet the exchange quality standards, the company said on Tuesday.

Binance published the delisting announcement several minutes after 07:15 UTC, causing an immediate price decline for all four coins. Triggers and ChatCoin reacted with the largest drop, plunging by about 30% each an hour after the news became public. Bytecoin lost around 20%, while Iconomi was down by more than 10% at that point.

The coins kept sliding more than two hours after the decision was announced because Binance is the main market for these projects. TRIG traded at $0.19, a 37.35% drop in 24 hours as of 09:23 UTC on Tuesday. The coin clocked $5.8 million in trading volume, and pairs with …

This article appeared first on Cryptovest

Like this: Like Loading...