Binance Announces ‘Vote to Delist’ as it Removes Five Altcoins

Binance introduced a ‘Vote to Delist’ feature today, allowing verified users to vote to remove tokens from the Monitoring Zone list. This empowers the community to participate in deciding which tokens should be removed from the platform.

Tokens listed in the Monitoring Zone are at risk of being removed due to low liquidity, inactivity, or other warning signals. At the time of writing, a total of 27 cryptocurrencies were in the Monitoring Zone. Notable projects include JasmyCoin (JASMY), Zcash (ZEC), and FTX Token (FTT). These tokens have a market capitalization of $636 million, $502 million, and $399 million, respectively.

Users are eligible to vote once they have a verified account on Binance and maintain a minimum balance of 0.01 BNB during the voting period. The voting period runs until March 27, 2025, 23:59 UTC.

Users can vote for up to five projects in the delisting pool, with each user allowed one vote per project. Votes must be submitted via the official post on Binance Square Official to be valid.

The initiative is intended to give the community more say in decision-making, but the exchange emphasizes that community votes will not be the only factor in deciding on the removal of tokens.

The largest exchange by market capitalization will still conduct a thorough review taking into account the level of activity, trading volume, team engagement, regulatory compliance, and other relevant criteria.

In the past, Binance has removed tokens that did not meet these standards, including big names like Monero (XMR), Filecoin (FIL), and Internet Computer (ICP).

Binance Removes Five Altcoins

The launch of the ‘Vote to Delist’ feature was accompanied by the announcement of the removal of five cryptocurrencies from the trading platform. These are Aergo (AERGO), AirSwap (AST), BurgerCities (BURGER), Combo (COMBO), and Linear Finance (LINA). These tokens will be removed on March 28, 2025, at 11:00 (UTC+8).

Following the announcement, all five altcoins dropped significantly, with BURGER taking the biggest hit with a drop of 48.1% within two hours, while the other losses ranged from 5% to 35%.

This development comes amid a broader market downturn, with major crypto assets such as Bitcoin and Ethereum respectively down by 1.38% and 1.01%. XRP, SOL, and Cardano also fell by more than 3%. The total market capitalization has now dropped by 3.8% to $2.85 trillion.