Panic Selling of BCN Going On As Binance Set to Delist 4 Coins Including $BCN
World’s largest crypto exchange Binance just announced via a tweet that the exchange will soon delist up to four cryptocurrencies, including Bytecoin ($BCN), ChatCoin ($CHAT), Iconomi($ICN) and Triggers ($TRIG).
Binance explains in the announcement that in order to maintain a high-level standard of quality, the projects are reviewed. Should the projects fall below this standard, they will be subject to further review and potentially delisted.
— Binance (@binance) 9 October 2018
Factors mentioned for delisting include looking into the commitment of the team to the project, specifics of the development cycle, and the stability of the network itself, or smart contracts in the case of tokens on other blockchains.
Each coin listed on Binance’s platform is thoroughly researched in order to ensure that their customers have access to only the digital assets. However, as the crypto world is always changing and evolving, some coins are simply not capable of maintaining a high standard of quality.
Binance has decided to periodically conduct comprehensive reviews of listed coins and to remove all those whose standard drops below a certain level.
This has created a huge FUD amongst the cryptocurrency traders as panic swept over with massive amount of selling, the BCN price fell from 0.00000035 BTC to 0.00000026 BTC in just a few hours. Cryptocurrency investors believe this is the best time to invest in BCN.
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