Binance to Delist Major Cryptos on September 18, 2024!
URGENT ALERT for Crypto Holders ⚠️
Binance is preparing to remove five major cryptocurrencies from its platform. If you own any of these tokens, it’s crucial to act quickly to protect your investments. Here’s what you need to know:
💥 Cryptocurrencies Being Delisted:
ForTube (FOR): ⬇️ Down 42.51% in 24 hours, currently at 0.00997 USDT due to poor performance.
Ellipsis (EPX): ⬇️ Down 34.60%, trading at 0.0000799 USDT, largely due to declining user activity.
Voyager Token (VGX): ⬇️ Dropped 33.64%, now at 0.0399 USDT following the Voyager platform's collapse.
PowerPool (CVP): ⬇️ Down 39.23%, priced at 0.2300 USDT, as interest has significantly diminished.
Reef (REEF): ⬇️ Down 21.08%, currently at 0.000917 USDT, failing to bridge DeFi and centralized exchanges effectively.
🔑 How to Protect Your Assets:
1. Withdraw or Convert: Move your holdings to another platform that supports these tokens or convert them to stable assets on Binance.
2. Use Private Wallets: Transfer your tokens to external wallets that still support these cryptocurrencies.
3. Monitor Binance Updates: Keep an eye out for further announcements from Binance.
4. Explore Other Platforms: Look into alternative exchanges that may still list these assets.
🔍 Why Binance Is Delisting These Tokens:
Binance regularly assesses tokens based on trading volume, development activity, and user interest. These cryptocurrencies have not met the exchange's standards, resulting in their delisting.
⚠️ Act NOW to secure your investments before September 18, 2024! Time is of the essence!
Reef Update
After Binance announced it would delist $Reef, the price surged by 1500% before crashing over 70%. This spike was likely due to low transaction volume.
The market cap fluctuated from around $250 million to $75 million. It seems there was some manipulation by whales, as they coordinated to inflate the price and then exited at the same time.
This highlights the risks of trading delisted coins. I recently lost $100 shorting $XMR when the delisting notice came out—they were using similar tactics.
Currently, you might consider buying a small amount of Reef, as its market cap is now $75 million. If the price rebounds, you could potentially triple your investment.
