Binance, the largest crypto exchange by trading volume metrics, decided to delist 14 altcoins, sending the affected tokens to a free fall.
The platform recently adopted a mechanism to involve its community in the listing and delisting processes.
Binance To Delist 14 Altcoins
The exchange revealed the decision on Tuesday, during the early hours of the Asian session. It would delist and cease trading on all spot trading pairs for the named tokens starting April 16 at 03:00 (UTC).
“Following the Vote to Delist results and completion of the standard delisting due diligence process, Binance will delist BADGER, BAL, BETA, CREAM, CTXC, ELF, FIRO, HARD, NULS, PROS, SNT, TROY, UFT and VIDT on 2025-04-16,” read the announcement.
The selection of these 14 tokens was reportedly based on a comprehensive evaluation of multiple factors. Among them are the level and quality of the development activity, trading volume, and liquidity.
In line with its recent decision to involve the community in its listing and delisting plans, the Binance exchange also held a vote. Reportedly, while it received 103,942 votes from 24,141 participants, only 93,680 proved valid.
“Community voting results were evaluated after rigorous filtering of ineligible votes and invalid votes,” the exchange articulated.
In the immediate aftermath of the delisting announcement, the 14 tokens fell over the cliff, with most recording double-digit losses.
The turnout is unsurprising, as such announcements often cause price drops for affected tokens. A similar announcement was made recently to delist three altcoins: AKRO, BLZ, and WRX. Likewise, their prices dropped by double digits.
What Binance Users Need to Do
Binance said all trade orders will be automatically removed after trading ceases in each trading pair. It will also terminate trading bot services for the aforementioned spot trading pairs immediately after the delisting occurs.
Based on these guidelines, Binance users should update and/or cancel their trading bots before the delisting to avoid any potential losses.
Notably, once the delisting happens, any outstanding assets will be force-sold at market price or moved to the Spot Account if the amount is unsellable. Similarly, the token’s valuation will no longer be displayed in users’ accounts after delisting.
Deposits of these tokens will also not be credited to users’ accounts after the delisting time. Meanwhile, withdrawals of these tokens from Binance will not be supported after June 9 at 03:00 UTC.
“Delisted tokens may be converted into stablecoins on behalf of users after 2025-06-10 03:00 (UTC),” Binance added.
Meanwhile, it is worth noting that while Binance exchange’s move to involve the community in the listing and delisting bolsters democracy, it drew criticism. As BeInCrypto reported, it drew concerns over whether the exchange gave preferential treatment to BSC chain tokens.
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