Binance Delists Five Tokens, Prices Plunge Up to 48%

Binance, a prominent global cryptocurrency exchange, has announced its decision to delist five major tokens from its platform. The tokens affected by this move are AERGO, AirSwap (AST), BurgerCities (BURGER), Combo (COMBO), and Linear Finance (LINA). This announcement has sparked significant market discussions and concerns about a potential price crash for these tokens in the coming days.

The delisting decision by Binance is part of its periodic evaluations to ensure compliance with industry standards. The exchange considers several factors when deciding to delist a token, including project commitment, trading liquidity, regulatory concerns, and security risks. According to Binance, the delisting of these tokens is a result of their failure to meet the necessary criteria.

The delisting process will begin on March 28 at 03:00 UTC, with trading for the affected tokens being halted. Several key services, including futures contracts, margin trading, and staking options, will be stopped before the official removal date. Binance Futures will close all positions and conduct an automatic settlement for the perpetual contracts of AERGOUSDT, COMBOUSDT, and LINAUSDT on March 27 at 09:00 UTC. Margin trading for the affected tokens will be disabled from March 26 at 06:00 UTC, with users advised to close positions before liquidation. Deposits of these tokens will not be credited after March 29, and withdrawals will be unsupported after May 27.

In addition to the delisting announcement, Binance has introduced a new feature called "Vote to Delist," which allows the community to have a say in future delisting decisions. However, the current batch of delisted tokens will not be part of this initiative.

The market reaction to the delisting announcement has been swift and significant. AERGO's price dropped by more than 6% following the announcement, while AirSwap's (AST) price plunged by about 28%. BurgerCities (BURGER) price retreated by 48%, and Combo (COMBO) price declined by 20%. Linear Finance (LINA) also recorded a slump of over 32%, indicating the waning market interest in these tokens.

This move by Binance underscores the exchange's commitment to maintaining high standards and ensuring the safety and security of its users. However, the market impact of this decision remains to be seen, as investors and traders react to the news. The delisting of these tokens could potentially trigger a widespread selloff, leading to a price crash for the affected tokens.