A new ‘Vote to Delist’ feature has been introduced, allowing verified users to remove tokens from its monitoring zone list.
Commencing today, March 21, 2025, a “Vote to Delist” initiative has been launched, enabling community members to engage in deciding which tokens should be excluded from the platform.
Importantly, the voting will focus on cryptocurrencies listed in the monitoring zone, where tokens face potential delisting due to weak liquidity, inactivity, or other concerning signs.
At the time of writing, there are 27 cryptocurrencies in this Monitoring Zone. Some of the notable projects include JasmyCoin (JASMY) with a market cap of $636 million, Zcash (ZEC) at $502 million, and FTX Token (FTT) valued at $399 million.
To be eligible to vote, users must possess a verified account and maintain a minimum balance of 0.01 BNB during the voting period, which is set to conclude on March 27, 2025, at 23:59 UTC.
Eligible participants can cast votes for up to five projects in the delisting pool, with one vote allowed per project. Votes must be submitted to the official post on Binance Square to count.
While this move seeks to improve listing governance and grant the community “a greater voice,” it’s noted that community votes will not be the exclusive factor in making delisting decisions.
The exchange will conduct a comprehensive evaluation, considering factors such as the project’s activity level, trading volume, team engagement, regulatory adherence, and other pertinent criteria.
In the past, tokens have been delisted for failing to meet these standards, including prominent names like Monero (XMR), Filecoin (FIL), and Internet Computer (ICP).
The announcement of the delisting feature coincided with the notification regarding the removal of five cryptocurrencies from the trading platform.
The tokens affected are Aergo (AERGO), AirSwap (AST), BurgerCities (BURGER), COMBO (COMBO), and Linear Finance (LINA), set to be delisted at 11:00 AM on March 28, 2025 (UTC+8).
Following the announcement, all these altcoins experienced a decline, with BURGER suffering the most significant drop of 48.1% within two hours, while the others reported losses varying between 5% and 35%.
This development occurs amid a wider market downturn, as major crypto assets like Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA) have seen losses ranging from 2% to 4%. Currently, the total cryptocurrency market capitalization has fallen by 3.8% to $2.85 trillion.