Crash

Rupiah Token

Ooki Protocol

Unifi Protocol DAO

TL;DR
<ul>
 <li>Binance’s recent delisting of several tokens led to sharp price drops, with some losing over 40% of their value.</li>
 <li>In contrast, the company’s support toward specific meme coins has fueled significant price rallies.</li>
</ul>
<h2 id="span-data-preserver-spaces-true-a-href-https-cryptopotato-com-wp-content-uploads-2024-10-binance_cb-24-jpg-data-wpel-link-internal-rel-noopener-noreferrer-nofollow-a-span"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/Binance_CB-24.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a></h2>
<h2 id="heavy-bleeding">Heavy Bleeding</h2>
Binance regularly lists or delists certain cryptocurrencies based on numerous factors such as current market trends, regulatory environment, and more. Removing tokens from the world’s biggest crypto exchange impacts their liquidity and credibility and could be followed by a massive price collapse.
Such was the case after the latest delisting spree. Earlier today (October 23), the company <a class="editor-rtfLink" href="https://www.binance.com/en/support/announcement/binance-will-delist-idrt-kp3r-ooki-unfi-on-2024-11-06-043c8407bb904652a428573a50d07e07" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">announced</a> that the altcoins Rupiah Token (IDRT), Keep3rV1 (KP3R), Ooki Protocol (OOKI), and Unifi Protocol DAO (UNFI) will no longer be available on the platform from November 6. Withdrawals involving these tokens will be supported until February 6, 2025.
<blockquote>
 “The exact trading pairs being removed are KP3R/USDT, OOKI/USDT, UNFI/BTC, UNFI/TRY, UNFI/USDT, USDT/IDRT. All trade orders will be automatically removed after trading ceases in each respective trading pair.
 The token’s valuation will no longer be displayed in your wallet after delisting. To view your assets after trading ceases, please ensure you have not selected “Hide Small Balances” in all of your wallets,” the firm explained.
</blockquote>
While IDRT experienced only a minor price decline following the disclosure, this was not the case with the other three assets. KP3R is down almost 40% on a 24-hour scale, OOKI plummeted by 44%, whereas UNFI collapsed by 41%. 
<figure id="attachment_367507" aria-describedby="caption-attachment-367507" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/OOKI-Price.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-367507" src="https://cryptopotato.com/wp-content/uploads/2024/10/OOKI-Price.png" alt="OOKI Price" width="576" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/OOKI-Price.png 1046w, https://cryptopotato.com/wp-content/uploads/2024/10/OOKI-Price-300x209.png 300w, https://cryptopotato.com/wp-content/uploads/2024/10/OOKI-Price-1024x712.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/OOKI-Price-768x534.png 768w, https://cryptopotato.com/wp-content/uploads/2024/10/OOKI-Price-50x35.png 50w" sizes="(max-width: 576px) 100vw, 576px"></a>
 <figcaption id="caption-attachment-367507" class="wp-caption-text">
 OOKI Price, Source: CoinGecko
 </figcaption>
</figure>
<h2 id="span-data-preserver-spaces-true-the-opposite-effect-span">The Opposite Effect</h2>
Another recent Binance announcement had a polar effect, resulting in a massive price rally for the affected cryptocurrency. As CryptoPotato <a class="editor-rtfLink" href="https://cryptopotato.com/this-viral-meme-coin-explodes-by-65-following-support-from-binance-details/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">reported</a> on October 22, the company launched 1000CATUSDT perpetual contracts&nbsp;on its&nbsp;futures program. Shortly after, the meme coin Simon’s Cat (CAT) saw its valuation skyrocket by 65%.
A month ago, Binance <a class="editor-rtfLink" href="https://cryptopotato.com/these-meme-coins-explode-following-listing-on-binance-details/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">embraced</a> three additional meme coins on its platform: Baby&nbsp;Doge Coin (BABYDOGE), Turbo (TURBO), and Neiro (NEIRO). Their prices also witnessed impressive pumps with NEIRO skyrocketing by a whopping 500% daily.&nbsp;
It is important to note that Binance listed the meme coins under its seed tags category, which includes “innovative projects that might have greater volatility and risks” compared to other assets. It advised users to thoroughly research before engaging with them.
The post <a href="https://cryptopotato.com/these-altcoins-crash-by-double-digits-following-delisting-from-binance-details/" rel="noopener noreferrer nofollow">These Altcoins Crash by Double Digits Following Delisting From Binance: Details</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

These Altcoins Crash by Double Digits Following Delisting From Binance: Details

Table of Contents

CryptoPotato_News

Other articles published on Oct 23, 2024

Truth Behind Tesla’s $700 Million Bitcoin Transfer Revealed – Did They Sell It?

DeFi Oracle RedStone Launches AVS Testnet on EigenLayer

Norway’s central bank on course to present CBDC strategy

Russian influencer faces 10 years in prison for defrauding businessmen of $22 million in a crypto...

Hamster Token (HMSTR) Falls 65% from All-Time High

Tether CEO Calls for U.S. to Step Up on Crypto Regulation Amid Election Buzz

Join our free newsletter for daily crypto updates!