Binance Lets Users Play God with Altcoins – Chaos Ensues

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Binance, in its infinite wisdom, has decided to let its users play a high-stakes game of “Survivor: Crypto Edition” with its new ‘Vote to Delist’ feature. 🎭 Because, you know, what could possibly go wrong when you hand the power of delisting to a bunch of verified crypto enthusiasts?

Starting today, March 21, 2025, Binance is giving its community the keys to the kingdom, allowing them to vote on which tokens should be shown the door. 🚪 Because nothing says “decentralization” like a popularity contest, right?

Notably, the tokens up for voting are those in Binance’s “Monitoring Zone” – a fancy way of saying “we’re keeping an eye on you, but you’re probably doomed.” These tokens are at risk of delisting due to poor liquidity, inactivity, or other red flags. 🚩

At the time of writing, there were 27 cryptocurrencies in the Monitoring Zone, including some big names like JasmyCoin (JASMY), Zcash (ZEC), and FTX Token (FTT). Because, of course, FTX is still hanging around like that one guest who just won’t leave the party. 🎉

To participate in this democratic circus, users need a verified Binance account and a minimum balance of 0.01 BNB. The voting period runs until March 27, 2025, at 23:59 UTC. ⏳ So, if you’ve got a few BNB lying around and a burning desire to play judge, jury, and executioner, now’s your chance!

Eligible users can vote for up to five projects in the delisting pool, with one vote per project. Votes must be submitted under the official post on Binance Square Official to be considered valid. 📝 Because, you know, we wouldn’t want any rogue votes slipping through the cracks.

While Binance claims this move is all about “enhancing listing governance” and giving the community “a greater voice,” let’s be real – the final decision still rests with Binance. 🎤 So, it’s more like a suggestion box than a true democracy.

The exchange will still conduct a thorough review, taking into account factors like the project’s level of activity, trading volume, team commitment, regulatory compliance, and other relevant criteria. 📊 Because, at the end of the day, Binance is still the boss.

Binance has delisted tokens in the past for not meeting these standards, even some big names like Monero (XMR), Filecoin (FIL), and Internet Computer (ICP). 🚫 So, if you’re a token in the Monitoring Zone, you might want to start sweating.

The introduction of the delisting feature was accompanied by Binance’s announcement regarding the removal of five cryptocurrencies from its trading platform. 🗑️ The tokens include Aergo (AERGO), AirSwap (AST), BurgerCities (BURGER), COMBO (COMBO), and Linear Finance (LINA), which will be delisted at 11:00 AM on March 28, 2025 (UTC+8).

All these altcoins dropped after the announcement, with BURGER taking the biggest hit, plunging 48.1% within two hours, while the others saw losses ranging from 5% to 35%. 📉 Because nothing says “confidence” like a 48% drop in two hours, right?

The development comes amid a broader market downturn, with major crypto assets like Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA) experiencing losses between 2% and 4%. At press time, the total crypto market cap had dropped 3.8% to $2.85 trillion. 📉 So, it’s not just the altcoins feeling the heat – it’s a full-blown crypto winter out there. ❄️

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2025-03-21 13:09