Delisted Altcoins Feel Shocked, Saddened and Disappointed by Binance

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Binance Announce Delistings

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Following the news of major cryptocurrency exchange Binance delisting another 5 altcoins due to not satisfying “the high level of requirement we expect,” the groups behind the delisted projects are responding to the news on their particular platforms. The response is really similar from every group involved and boils down to them saying they’re not pleased about it, however they will continue working on their projects.

CloakCoin (CAPE) composed on their website: “The news on Friday about Cape being delisted from Binance has mentally shocked me. As CloakCoin’s project supervisor this is an even harder hit for me due to the fact that I very highly identify myself with the project. Binance is a reliable player in the crypto scene. This unsubstantiated and incomprehensible message taints CloakCoin’s reputation in an unfavorable way […] Looking back at the regular contact made with Group Binance previously, I wish for an in-depth explanation concerning which of the points apply to CloakCoin.”

Modum (MOD) is alarmed, but is not making a lot of descriptions for the time being: “We were offered no prior notice about this decision and have actually not received an acceptable reason from Binance yet. We will update the community as early as possible [this] week,” they wrote in their Telegram channel.

Wings (WINGS) had a similar response in a post: “These news have saddened us, as WINGS has actually been noted since the early days of Binance. As all the needed info by Binance was constantly supplied in a prompt way. The delisting was a huge surprise for us, considering that we have not received any alert about the pending delisting, for this reason had no opportunity to solve any issues they might have found with the project. In truth, at this very minute we have no info why Wings particularly was picked, despite our duplicated inquiries to Binance.”

Binance Delisting keep crypto safe with Ledger XSubstratum (SUB) made a more particular explanation of their complaints versus this course of action. “This decision came as a surprise, with no advance warning. We are awfully disappointed in the choice and their handling of the delisting. To be specific:

We were not questioned regarding any issue(s) to ensure the problem(s) is accurate before making this decision.We were not given an opportunity to clear up any real/perceived issue(s), such as a probationary status or deadline to fix. We were not offered any conditions for relisting.

Binance has indicated that our delisting is because of the trading of ICO funds. We are attempting to connect to Binance to provide them with documents to show that is not the case.” They later on include, “The Substratum development group remains concentrated on delivery and our upcoming release. We will not be discouraged or sidetracked by influences outside of our control. We remain vigilant in pursuing liberty of info to all … true net neutrality.”

Salt (SALT) is likewise upset: “SALT adamantly challenge Binance’s announcement which provides the basis for which it delists a token but does not make any specific accusation versus the list of business, thus creating false negative ramifications. Binance has actually not asked for any details from SALT to make it possible for Binance to make a decision connecting to its now openly noted criteria and acted irresponsibly in insinuating that any of the criteria is true of SALT.”

However, the tokens stay delisted, and Binance is not understood for re-listing tokens they currently eliminated. 2 of the prices seem to have actually gotten over the delisting news already: CloakCoin’s price remains practically the exact same (UTC 09:40 AM) as it was 24 hours ago with a drop of -0.06%, and Salt dropped by just 0.62%. Modum even increased by 7.9%, Wings leapt by 7.24%, while Substratum is the only one suffering a real loss, having dropped by 6.96%.

As Binance has actually delisted four altcoins last October, their prices fell without recuperating to previous levels. Additionally, subsequent market crash in November, pressed costs even lower. The price of Bytecoin (BCN) has actually fallen an extra 60% in the meantime (from USD 0.001639 to USD 0.000651 since the time of writing), ChatCoin (CHAT) has actually fallen around 82% (from USD 0.01586 to USD 0.002840), which is almost the same as Iconomi (ICN) (from USD 0.3595 to USD 0.061999), and Triggers (TRIG) was the only one to suffer a fairly small net fall of 23% (from USD 0.1514 to USD 0.116729).

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