Binance announced on August 3rd its decision to terminate services for six altcoins: Across Protocol (ACX), Hashflow (HFT), PIVX (PIVX), Vulcan Forged PYR (PYR), Vanar (VANRY), and Viction (VIC). The delisting is scheduled to take effect on August 17th. The announcement coincided with immediate price drops for these tokens, with PIVX and PYR experiencing significant decreases.
Following the announcement, PIVX and PYR saw their values decline by approximately 20%. This market reaction is consistent with previous delisting events by major exchanges, where reduced availability and thinner liquidity often lead to price depreciation. The specific criteria Binance uses for its delisting reviews, which aim to ensure listed cryptocurrencies meet necessary standards and industry requirements, were not detailed in the announcement. This lack of specific detail represents an uncertainty in understanding the precise reasons for each token’s removal.
This is not the first time Binance has delisted assets this year. Towards the end of June, the exchange terminated services for four other altcoins: Alchemix (ALCX), Ardor (ARDR), NFPrompt Token (NFP), and Marlin (POND). Notably, NFPrompt Token (NFP) experienced a substantial valuation plunge of 21% in a single day following its delisting.
In addition to the delistings, Binance also recently conducted brief maintenance periods for deposits and withdrawals on the TRON (TRX) and Zcash (ZEC) networks. These operations were reportedly restored quickly without any reported lingering issues. These activities occurred as Binance continues to solidify its global presence, having recently strengthened its position in the Philippines.
The delisting of ACX, HFT, PIVX, PYR, VANRY, and VIC is part of Binance’s ongoing review process. While the exchange aims to maintain high standards for listed assets, the exact parameters of these standards remain unspecified. The market’s response, characterized by price decreases for the affected tokens, underscores the significant influence exchanges like Binance have on cryptocurrency liquidity and valuation. The precise reasons for the delisting of each individual token are not provided, adding to the uncertainties surrounding these platform updates.
Why This Matters
The materials describe a narrow update: Binance will terminate services for six cryptocurrencies: ACX, HFT, PIVX, PYR, VANRY, and VIC, effective August 17. The specific ‘necessary standards and industry requirements’ Binance used for the review are not detailed.
Broader Context
Source materials place the factual news in this context: Binance announced several platform amendments over the past several weeks affecting altcoin traders and investors.
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