Binance delistings are as significant as new Binance listings to maintain a healthy portfolio of crypto offerings.
The exchange has always been ready to launch new initiatives to keep the platform updated and in sync with the changing market norms. With continuous efforts to expand its audience base, the exchange has recently introduced interactive Binance quizzes and Binance Wodl. Meanwhile, it also has announced a new BAB token.
However, for Binance to prosper ahead, the exchange needs to perform certain by striking a healthy balance. Let's take a look at some recent Binance delistings.
Latest Binance delistings
According to the latest update from Binance's official website, the following cryptocurrencies have been delisted from the exchange.
- EasyFi (EZ)
- QuantStamp (QSP)
- Bread (BRD)
- Nexus (NXS)
- Navcoin (NAV)
- Moeda Loyalty Points (MDA)
- Spartan Protocol (SPARTA)
In Binance's previous delisting in July, Binance removed Groestlcoin, Nebulas, and GoChain.
Why does Binance delist coins?
According to Binance, the exchange is quite particular in its standards and expects the same out of each cryptocurrency it lists for trading.
Any cryptocurrency, which is not up to par with Binance's crypto ethics, standards, and norms will ultimately be delisted from its exchange, and will not be available on Binance for future trading.
To quote Binance's reason to delist coins:
When a coin or token no longer meets this standard or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all our users.
There are several parameters that Binance reviews and assesses before it delists a coin from its platform.
Several factors such as trading volume/liquidity, network stability/safetey, level of public communication, unethical/fraudulent conduct, quality of development activity, and responsiveness to Binance's due diligence requests.
If a cryptocurrency fails to adhere to the norms listed, Binance may delist that particular cryptocurrency from its exchange.
While Binance is delisting coins, there's always plenty of new cryptocurrency coins vying for a listing on the exchange. Alongside this, there are lots of new Coinbase listings and new Crypto.com listings getting added.