Binance Triggers Major Collapse for These Altcoins: Details Inside
PIVX (PIVX), Vulcan Forged PYR (PYR), and four other lesser-known digital assets have posted substantial losses today (August 3), and the main culprit behind the decline appears to be Binance.
Over the past several weeks, the worldโs largest crypto exchange announced several other platform amendments that have affected multiple altcoin traders and investors.
Goodbye to These Tokens
Binance carried out another review to ensure that all cryptocurrencies listed on its platform meet the necessary standards and industry requirements. As a result, it revealed that it will terminate all services with Across Protocol (ACX), Hashflow (HFT), PIVX (PIVX), Vulcan Forged PYR (PYR), Vanar (VANRY), and Viction (VIC).
The delisting is scheduled for August 17, but the news has already impacted the prices of the aforementioned tokens. PIVX and PYR are the biggest losers from the pack, both nosediving by 20%, while the rest have recorded more modest decreases.
Withdrawing support from Binance inevitably leads to reduced availability, thinner liquidity, and reputational damage, so the price reaction isnโt exactly surprising. Something quite similar was observed towards the end of June when the company said goodbye to Alchemix (ALCX), Ardor (ARDR), NFPrompt Token (NFP), and Marlin (POND).
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