Binance Delists Four Cryptocurrencies in Altcoin Purge
Just a day after announcing that it will make its listing fees public and donate all proceeds to charity, Binance has made a move to delist four cryptocurrencies that trade on the leading exchange. According to the latest announcement, Binance will delist Bytecoin (BCN), ChatCoin (CHAT), Iconomi (ICN) and Triggers (TRIG) on November 12 at 10:00 AM (UTC).
Binance based its delisting decision on a number of factors, including the commitment of the team to project, quality and level of development activity, network and smart contract stability, and level of public communication and activity.
This perhaps comes as the biggest surprise to the Bytecoin team, which just saw its privacy-focused digital currency list on Binance last May. However, in perhaps a foreshadowing of the things to come, the Bytecoin network experienced unusually high loads after being listed, resulting in significant transaction delay and node synchronization issues.
All four altcoins are down big on the news, with TRIG leading the way down 39%. Iconomi is now down to a $36 million market cap and Bytecoin is down 20% to a $324 million market cap, making it the 29th largest coin in the AltDex 100 Index (ALT100).