haha we already took out the $JASMY we don't have them on binance haha do whatever you want we're not going to sell them in
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Binance's Major Bombshell! New Delisting Mechanism Launched, Will Retail Investors' Money Go Down the Drain?
Recently, Binance introduced a shocking delisting mechanism that has sparked widespread concern among retail investors. Are the small coins that everyone worked hard to buy at risk of being 'abandoned' at any moment? Today, we will delve into this new mechanism and assess whether your coins are at risk.
What exactly is this new mechanism?
On March 21, Binance launched a new 'community governance' feature, allowing users to vote on which coins to keep and which to delist. As long as there is 0.01 BNB in the account, users can vote to select the coins for delisting. Voting began on March 21 and will end on March 27. However, the final decision still rests with Binance, which will take into account project progress, team conditions, trading volume, and community activity.
Which coins are likely to be delisted?
Binance has placed coins with low trading volumes, no project progress, and serious regulatory issues in the 'monitoring zone,' where these coins may face delisting at any time. For example, JASMY, ZEC, FTT, etc., have already been classified as high-risk coins and have been delisted recently. Meanwhile, AERGO, AST, BURGER, etc., were removed from the trading platform on March 28.
How to avoid stepping on landmines?
Trading Volume Monitoring: If your coin's trading volume has been consistently below a few million, it may be at risk.
Project Dynamics: Check the project's official website to see if the team has provided updates. Be cautious with projects that have no activity.
Popularity Survey: Search for the token name and see how much discussion is happening online. If there's little discussion or all information is false, that coin may not be reliable.
What to do if your coin is delisted?
If your coin is delisted, act immediately! Once the delisting notice is issued, the price typically plummets (for example, JASMY dropped by 10%, FTT dropped by 38%), so sell as soon as the price is still tradeable, and convert it to Bitcoin or stablecoins. If you firmly believe the project has future potential, check other exchanges for support and transfer the coins there.
How can beginners avoid pitfalls?
For beginners, it's important to avoid randomly buying small coins, especially those with low trading volumes and poor recognition. Diversify your investments and do not put all your funds into one coin to mitigate losses in case it gets delisted.
Recently, Binance introduced a shocking delisting mechanism that has sparked widespread concern among retail investors. Are the small coins that everyone worked hard to buy at risk of being 'abandoned' at any moment? Today, we will delve into this new mechanism and assess whether your coins are at risk.
What exactly is this new mechanism?
On March 21, Binance launched a new 'community governance' feature, allowing users to vote on which coins to keep and which to delist. As long as there is 0.01 BNB in the account, users can vote to select the coins for delisting. Voting began on March 21 and will end on March 27. However, the final decision still rests with Binance, which will take into account project progress, team conditions, trading volume, and community activity.
Which coins are likely to be delisted?
Binance has placed coins with low trading volumes, no project progress, and serious regulatory issues in the 'monitoring zone,' where these coins may face delisting at any time. For example, JASMY, ZEC, FTT, etc., have already been classified as high-risk coins and have been delisted recently. Meanwhile, AERGO, AST, BURGER, etc., were removed from the trading platform on March 28.
How to avoid stepping on landmines?
Trading Volume Monitoring: If your coin's trading volume has been consistently below a few million, it may be at risk.
Project Dynamics: Check the project's official website to see if the team has provided updates. Be cautious with projects that have no activity.
Popularity Survey: Search for the token name and see how much discussion is happening online. If there's little discussion or all information is false, that coin may not be reliable.
What to do if your coin is delisted?
If your coin is delisted, act immediately! Once the delisting notice is issued, the price typically plummets (for example, JASMY dropped by 10%, FTT dropped by 38%), so sell as soon as the price is still tradeable, and convert it to Bitcoin or stablecoins. If you firmly believe the project has future potential, check other exchanges for support and transfer the coins there.
How can beginners avoid pitfalls?
For beginners, it's important to avoid randomly buying small coins, especially those with low trading volumes and poor recognition. Diversify your investments and do not put all your funds into one coin to mitigate losses in case it gets delisted.
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.