Binance Mass Delists 23 Virtual Assets... Will My Coins Become Worthless?

▲ Binance, Virtual Assets, Delisting/AI Generated Image

The world's largest virtual asset exchange, Binance, has announced the simultaneous delisting of 23 types of virtual assets, sending a significant shockwave through the market.

According to U.Today, a cryptocurrency specialized media outlet, on May 1st (local time), Binance decided to cease support for 23 tokens that did not meet its trading standards after a regular asset review process. Binance explained that it periodically reviews all listed assets to ensure they maintain high standards, and this decision is a measure for the health of the ecosystem and user protection.

Reasons for delisting included a lack of development commitment from project teams, deteriorating network stability, and low liquidity. Binance analyzes the trading volume and market activity of each asset monthly to filter out projects that fall below its standards. This large-scale cleanup includes many projects that once garnered high expectations, thus requiring special attention from investors holding these virtual assets.

The specific schedule for the termination of trading support has been announced on Binance's official website, and withdrawal services will be supported for a certain period to allow users to safely withdraw their assets. Experts evaluated this large-scale delisting as an essential process for improving the virtual asset market's structure, but they also predicted that increased short-term price volatility would be inevitable. Immediately after the delisting news, the affected tokens plummeted, receiving a harsh market evaluation.

Binance plans to continue strict post-listing management for its listed assets and has left open the possibility of further strengthening trading standards in response to changes in market conditions. Investors should verify whether their held assets are included in the delisting list and complete asset transfers within the specified deadline to minimize losses. Through this measure, the exchange plans to remove unsound projects and create a more transparent and reliable virtual asset trading environment.

*Disclaimer: This article is for investment reference only and does not take responsibility for investment losses based on it. The content should be interpreted for informational purposes only.*