Many leading cryptocurrencies have seen some volatility over the past 24 hours, yet their price swings don’t compare to the devastating crash that five lesser-known altcoins experienced.
The culprit behind that meltdown was Binance, which recently announced its latest delisting effort.
The Heavy Bleeding
The world’s largest crypto exchange revealed that it has conducted another review to ensure that all coins listed on the platform meet high standards and industry requirements. Based on its analysis, it decided to terminate all services involving Automata (ATA), Harvest Finance (FARM), Enzyme (MLN), Phoenix (PHB), and Syscoin (SYS).
The delisting will take place on May 27, with Binance explaining that deposits of these tokens will not be credited to users’ accounts after May 28. Moreover, withdrawals will remain available until July 27.
The news has caused a major decline for the involved coins. All of them have plunged by double digits immediately after the disclosure, with SYS taking the biggest blow as its valuation has tumbled by 34%.
Such price reactions are hardly surprising, since losing backing from a crypto behemoth like Binance typically leads to reduced liquidity, lower market visibility, and reputational damage.
In April, Beefy.Finance (BIFI), FunToken (FUN), FIO Protocol (FIO), Orchid (OXT), Measurable Data Token (MDT), and Wanchain (WAN) posted similar losses after the exchange removed them from its platform. Shortly after, Dego Finance (DEGO), DENT (DENT), and TrueFi (TRU) met the same fate.
Other Recent Updates
Earlier this week, Binance listed the trading pairs MEGA/U, TON/U, and TON/USD1 to its margin program. The initiative was once again primarily centered on United Stables (U) – a stablecoin launched in late 2025 and pegged to the American dollar.
Over the past months, the exchange expanded the list of trading pairs on Binance Spot by adding XRP/U, SUI/U, ASTER/U, and PAXG/U. It also included AVNT/U, BIO/U, CHIP/U, KAT/U, CHIP/USD1, and XAUT/USD1 on Cross Margin.
Just recently, it announced that users can spend U tokens with their Binance Cards and earn 15% cashback. The offering comes with 0 conversion fees and 0 Foreign Exchange (FX) charges.
The company explained that the reward will be distributed in tokens designated by the company, at its sole discretion, before June 30. The cashback is non-transferable, non-exchangeable, and cannot be redeemed for cash or any other benefit, it added.
The post Brutal Price Collapse for 5 Altcoins After Binance Says Goodbye: Details appeared first on CryptoPotato.
