Binance set to delist 4 coins including $BCN

09 Oct, 2018
Breaking News
Binance set to delist 4 coins including $BCN

Binance has announced their biggest delisting announcement yet. The exchange will be delisting four project including Bytecoin ($BCN), ChatCoin ($CHAT), Iconomi($ICN) and Triggers ($TRIG)

The Binance announcement comes following what Binance call a "periodic review of each digital asset listed on our platform to ensure projects maintain a high standard of quality."

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 lists their factors related to the delisting decision process:

- Commitment of team to project
- Quality and level of development activity
- Network / smart contract stability
- Level of public communication and activity
- Responsiveness to our periodic due diligence
- Evidence of unethical / fraudulent conduct
- Contribution to a healthy and sustainable crypto ecosystem

Therefore $CHAT, $TRIG, $ICN, and one of the most speculative listings on Binance in 2018, $BCN. 

$BCN will be best remembered for causing one of the craziest pump and dumps on Binance following the listing. The project traded of $500M in volume within 24 hours following the Binance listing, which caused dramatic network congestions. Rumors quickly spread about the developers potentially exit scamming their premined tokens and purposefully blocking the network. 

All-in-all, it was a project that many people did not believe should have been on Binance in the first place. Five months later, and the project is being delisted. Following the announcement Bytecoin became the biggest loser in the top 100 coins, seeing a price drop of over 15% on the day. 

Image from Gyazo

Binance will cease trading on all four projects as of 10 October 2018, 10 AM UTC.  

Binance will continue to monitor projects on the exchange in order to protect all users and stakeholders.

CZ managed to tweet some responses to the community regarding the delistings: 

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