Binance is going to de-list 5 coins on 22nd Feb (CLOAK, MOD, SALT, SUB & WINGS)!

milewilda

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Quote from: BitHodler on June 30, 2019, 06:41:10 AM

Quote from: Cloverfield on June 30, 2019, 05:52:15 AM

I'm still a bit dissappointed about CLOAK that was delisted. I underdstand the want to keep the best and strong with the best volume. You can't have hundreds of trading pairs, but I don't believe Binance listed them for a few bucks. They receive huge money for a listing and this keeps going. Harsh..

I am of believe that an exchange can do whatever it wants. It might be an unpopular opinion, but there is no legislation that prohibits exchanges from accepting payments for a listing.

People should do their own research and not blindly invest in anything they see. The moment people stop pumping money in shitcoins there will be no incentive for the projects behind them to pay $100-$500k for the listing.

Coins are mostly removed because of their low volumes, but low volume is an indication of there not being much interest in it, and in most cases the networks themselves for that reason are vulnerable to double spend attacks.

Anything is really just good on initial phase and time would really test out on which one do really have that support which isnt really just temporal.
We cant do anything with these delistings since the decision would be always on their end.Its just normal for them to remove out which arent
already beneficial for them and free up some space for another coin to come in.Rinse and repeat= Generating income for them.

BitHodler

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Quote from: Cloverfield on June 30, 2019, 05:52:15 AM

I'm still a bit dissappointed about CLOAK that was delisted. I underdstand the want to keep the best and strong with the best volume. You can't have hundreds of trading pairs, but I don't believe Binance listed them for a few bucks. They receive huge money for a listing and this keeps going. Harsh..

I am of believe that an exchange can do whatever it wants. It might be an unpopular opinion, but there is no legislation that prohibits exchanges from accepting payments for a listing.

People should do their own research and not blindly invest in anything they see. The moment people stop pumping money in shitcoins there will be no incentive for the projects behind them to pay $100-$500k for the listing.

Coins are mostly removed because of their low volumes, but low volume is an indication of there not being much interest in it, and in most cases the networks themselves for that reason are vulnerable to double spend attacks.

Cloverfield

full member

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I'm still a bit dissappointed about CLOAK that was delisted. I underdstand the want to keep the best and strong with the best volume. You can't have hundreds of trading pairs, but I don't believe Binance listed them for a few bucks. They receive huge money for a listing and this keeps going. Harsh..

icalical

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Graphic & Motion Designer

Most of the project are just trash, the only reasons Binance listed them are because they can pay, I pity the poor developer and project owner. But, I surprise I saw SALT there, just one year ago the project seems solid and has good vision, I think the bearish market is starting to take down some solid projects.

Raja_MBZ

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Quote from: OmegaStarScream on February 16, 2019, 08:36:23 AM

If it was making them money, It wouldn't make sense to remove these coins based on nothing so there must be something that led to this.

According to Binance, they usually de-list due to the lack of:

Quote from: OmegaStarScream on February 16, 2019, 08:36:23 AM

Delisting is something good for traders and investors in the long term because, with time and more coins being created, investors will get into confusion and have no idea where to invest and let's face it, 99% of the coins out there has no real use case so a bit of cleaning doesn't hurt and that should also teach people that they should invest based on the technology and the development rather the price and the exchange a coin is being listed on.

Cleaning? It's good when you clean "dirt" and "garbage", and it's really bad when you clean (and throw away) the "gems". Binance just threw a couple of gems, for absolutely no reason(s) at all! There are a number of extremely dead projects with no volume at all currently listed at Binance.

I must say, they are NOT being transparent with their de-listing policy and this will surely hurt them in the future. Look at the style of their support team in this regard:

..."The number one crypto-exchange"... Roll Eyes

A couple of months back, they even gave CLOAK a "V Label".

hugeblack

legendary

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Buy/Sell crypto at BestChange

I wonder why these ~~Shitcoins~~ coins were listed? What are the criteria that led to such a decision?
If this was not a de-list from a famous platform, I thought it was just a price manipulation designed to make quick gains in short intervals.
I hope that more stringent new standards will be listed on Binance so that the inclusion in such platforms indicates the continuity of these currencies.

milewilda

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Quote from: Raja_MBZ on February 15, 2019, 05:16:01 PM

while half of these projects (that are about to get delisted) are actually active, especially in development. Roll Eyes

If they are still active in development but they havent any volume on Binance then there would be no exception when it comes to delisting.They arent already making some profits to Binance
and its just right for them to clean up the space and looking for another possible shitcoins to be listed on to make some money. List-Profit-Delist- Repeat.lol

OmegaStarScream

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If it was making them money, It wouldn't make sense to remove these coins based on nothing so there must be something that led to this.

We should also remember that these coins were once listed in Binance, so that caused a price increase as well. So unless it's ETH, BTC, LTC or these coins that are here to stay, one should always expect a de-list to occur and a price decrease.

Delisting is something good for traders and investors in the long term because, with time and more coins being created, investors will get into confusion and have no idea where to invest and let's face it, 99% of the coins out there has no real use case so a bit of cleaning doesn't hurt and that should also teach people that they should invest based on the technology and the development rather the price and the exchange a coin is being listed on.

Raja_MBZ

legendary

Activity: 1862

Merit: 1505

Binance Will Delist CLOAK, MOD, SALT, SUB and WINGS

https://support.binance.com/hc/en-us/articles/360023570292

Honestly, I wasn't expecting this. This even looks a bit unfair to me - there are a number of coins at Binance doing absolutely nothing at all (no activity in development, no trading volume, etc), while half of these projects (that are about to get delisted) are actually active, especially in development. Roll Eyes

12-hour (price) performance of these coins:

Topic: Binance is going to de-list 5 coins on 22nd Feb (CLOAK, MOD, SALT, SUB & WINGS)! (Read 195 times)