Binance’s Delisting Wave Struck 3 Altcoins Fighting Separate Crises

What Happened

Binance’s latest delisting wave hit three aging altcoins on August 20, and all three tokens plunged to fresh all-time lows within hours of the announcement.

A delisting notice is an exchange announcement that removes a token from trading, typically triggered by declining liquidity, weak development activity, or failure to meet listing standards. Binance cited its periodic asset review process for this decision.

“…We periodically review each digital asset we list to ensure that it continues to meet a high level of standard and industry requirements. When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it. Our priority is to ensure the best services and protections for our users while continuing to adapt to evolving market dynamics…,” Binance said in an official announcement.

Storj carries the heaviest baggage of all three. Parent company Storj Labs filed for Chapter 11 bankruptcy protection on July 26, seeking to resolve legacy liabilities while proposing an unusual path that would allow STORJ holders to claim equity in the reorganized business.

Market Context

ICON, Secret, and Storj will lose their spot trading pairs on September 3, the exchange confirmed in an official notice, with each token also facing a separate structural crisis.

The review considers factors including team commitment, development quality, trading volume, network security, community sentiment, and responsiveness to due diligence requests. Binance did not specify which criteria applied to each individual token in this batch.

Spot trading pairs will close at 03:00 UTC on September 3. Deposits will no longer be credited after September 4, and withdrawals will remain open until November 3, with Binance potentially converting remaining balances into stablecoins starting November 4.

Price reactions were swift and severe. Secret dropped to a fresh all-time low of $0.02073, down 18.8% over 24 hours and 24.4% over the past week, according to BeInCrypto data.

That filing triggered a 20% single-day crash last month. Despite the bankruptcy overhang, Storj actually gained 3% to $0.04131 in today’s session, even after briefly touching its all-time low of $0.03749, with trading volume jumping 85.2%.

All three tokens now trade more than 98% below their historical peaks. Binance reviews its listings periodically, and delistings like this one typically affect lower-liquidity tokens rather than major assets, though Upbit and Bithumb separately plan to delist Storj on September 14.

Why It Matters

What the Binance Notice Actually Says

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Details

Each Token Is Fighting Its Own Separate Crisis

That drop compounds a separate migration crisis. SCRT Labs plans to end official support for the Cosmos-based network entirely on September 1, just two days before Binance’s delisting, as the token moves to a new ERC-20 version on Arbitrum.

ICON fell even harder in percentage terms. The token hit an all-time low of $0.01529, down 12.5% in 24 hours, having already lost 19.1% over the past seven days following an earlier Monitoring Tag warning from Binance on August 11.

ICON faces its own separate deadline, too. The network is scheduled to shut down permanently, requiring holders to migrate to SODA tokens through the Soda Xchange merger, which is already underway.

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The post Binance’s Delisting Wave Struck 3 Altcoins Fighting Separate Crises appeared first on BeInCrypto.