FTT and These Altcoins to Be Delisted From Binance Next?

TL;DR

• The world’s largest crypto exchange has decided to ask its own users which altcoins they believe should be dropped from the platform.
• The second-batch votes are in, and they spell trouble for assets like FTT, ZEC, and JASMY.

Whether it’s due to a lack of liquidity or general user interest, Binance, as well as many other exchanges, frequently reviews the available trading pairs and altcoins listed on its platform to determine if there are some that should be delisted.

The process was highly centralized until recently, but the company has decided to ask its own user base which tokens they believe should be removed next.

The voting took place from April 10 to 16. Users with at least 0.01 BNB in their master accounts were eligible to cast their vote.

With the results now final, it became evident that the most unwanted token by Binance’s users is FTX’s FTT. It has received 11.1% of all votes. Interestingly, its price is down by over 4% on a daily scale, perhaps driven by some uncertainty regarding a potential removal from Binance.

Zcash (ZEC) follows suit, getting 8.6% of the vote. Its price has not been impacted as it is slightly in the green. JASMY, GPS, and PDA complete the top five, with 8.6%, 8.2%, and 7.6%, respectively.

It’s worth noting, though, that the exchange posted a disclaimer, which informs that the poll is not the only factor used to determine the final delisting decision. This means that even though FTT won the vote of no confidence, it doesn’t guarantee that it will be removed.

History shows that actual token delistings have resulted in immediate price volatility, mostly heading south, for the affected coins.