Bitcoin Forum

Hello, Guys what's up!
Just got a notification from Binance that they are delisting two projects named POE and TNT on 12.11.2020. So you guys should withdraw your fund from Binance before the deadline according to their announcement. You may visit the official link to know more details.

Source: https://www.binance.com/en/support/announcement/725a176f230542c6be7704339a011030

You know what was the reason?

BTW They should delist coins much more often. 400 coins/tokens are now listed on Binance. I doubt that 100 are worth more than a penny.

@Tytanowy Janusz

If I'm correct it's because of the low volume on the platform since it's about dead shitcoins. Since Binance monetizes the trading with the fees, they don't make "enough" money.

You see what I mean.
https://coinmarketcap.com/currencies/poet/
https://coinmarketcap.com/currencies/tierion/

Isn't it funny, they charge to list a coin, pump the coin on Twitter and once it's dead they remove it, and the cycle continues lol.
They listed over 50 coins in the last 60 days, they should be more careful and do more research about the project (viability, coherence, etc)
Currently, they're ready to accept anything if it can make them money

the money they charge to get the coin listed will just be waste. there is still volume to the POE which is 20K+ and so it the Tierion (TNT). sadly the teams hasn't demanded for a chargeback whenever they decide to delist. binance isn't just removing pairs but the coin itself. both tokens though are listed on other exchange. HitBTC anyway is secure, the volume i guess will also be moving to hitbtc.

As usual stuff when an exchange do delist out some coins then definitely means that it doesn't have volume or liquidity which means its just a consume up on some space
and its better to open its doors to other coins  that might really give out some revenue to them.

We know  that platforms are indeed making revenue with trading fees so its just normal that they will really be listing out coins and retain to those who
really perform well in terms of volume.

So as for common sense, then if you do have POE and TNT then its just normal for you withdraw up those coins before they would totally delist it to avoid some headache later on.

I don't think that low volume was the case. If so these are coins with the lowest trading volume:

https://i.imgur.com/4KuJN0l.png

Not TNT that had 6 BTC trading volume 2 days before announcement (its 250 now but only because of the fact that people are dumping hot potato)

As usual what causes delisting of coin from a particular exchange is dead team behind the project or failure of paying maintenance fee on the exchange, Binance delisting of token is not based on volume, maybe the team behind TNT and POE had refused to pay token maintenance fee. However project owners are giving warning to comply at a specific date and failure to do comply results to their token been delisted, so that's one of the major factor behind some coin delisting although volume may be applicable.

maybe they need to refresh their coinlist with new coins or token that have bigger trading volume in market. as an exchanges binance also calculate profits from trading volume , while they find coins have low trading volume and give small profit for them ofc this coin must replace with potential one.

I also got this notification and its always sad to see those great token before listing and now they are going to delist because for sure, that token didn’t meet the standard of Binance and there are many factors with regards to this one, not just the low volume of trades. Anyway, if you still have this token start liquidating now before the price of this token goes deeper.

At least, here are some reasons why a coin is delisted from Binance. They have the right for it whether it may give risks and also unfair to the team of the project that is delisted.
You can find the reasons in Binance official:
https://academy.binance.com/en/glossary/delisting

Well, if it is what actually happens, so there may be an internal reason why they are delisted as what has been explained in the link above.


Is this the reason?
https://i.imgur.com/5rTfMbK.png?1
Source: https://coindar.org/en/event/tierion-tnt-delisting-tntbtc-trading-from-binance-30625

People are dumping their TNT now as they have heard the announcement that makes the price continue to dump. Social media announcement fueling such decline for just a few hours.
Really disappointing and sees how the cycle made as stated by  LeGaulois. And I don't think also that it is about the low market volume of the platform but there is something behind internally.

Anyway, base on their reviews will show enough a reason to make such a decision but the sad thing is that this is also a reason that POE and TNT will suffer losses on their side and so their investors.

Yup, Time to discharge the crap coins with no use case. This things must be done in routinely, this is the manner by which the clients know about the  the risks before contributing! YHowever Binance is one of the well known exchanging site, they should maintain the high level of standard since clients would prefer not to see such crap coin like POE, TNT. Prices are rolling down continuously as Binance decided to delist POE and TNT.

Binance can't really handle a coins weight forever just because they listed it, I do not see any problems with binance delisting coins constantly, they could do that if they want to and they should be doing it when the volumes get low. I mean if you have a coin that has insanely low volume, that means it doesn't generate any trading fee income for binance and when it doesn't generate money for them, it is just a cost.

Think about all the cold storage, all the hot wallets, all the resources put into keeping one coin trading there, that has to worth something monthly to them and if it doesn't profit, why should they keep it there? This is why I disagree that binance can affect prices of coins, prices of coins affects binance if you ask me that seems more likely scenario here.

Binance only takes advantage of the situation and seeks profit only when listing coins on their market. It was clear before that many coins were delisted from his market and now POE and TNT will be delisted from Binance. Binance only takes advantage of fees from coins that are listed on their market without thinking in the future whether this coin will really be profitable in the future or not, this is something Binance has never thought about so many investors are stuck with Binance coins because the price has dropped so much especially if there is one. information will be delisted from Binance. I wanna for the future Binance should selective if wanna list new coin on the market again and never give chance for fake and bad project to list on Binance although wanna pay higher fee, investor member is most important than get fee from new coin listing.

Most of their income is not from the listing fees that they charge certain coins or tokens. Most of their revenue is from trading fees, look at how large their trading volume is everyday. They are the largest exchange pretty much. I think the reason why they charge a large fee is to weed out the scam projects who might be a ponzi scheme or pump or dump.

These coins that they are delisting? Are they ERC20 or do they have their own blockchain? Because if they need a node to be powered, it might be because there are not enough nodes or the server node is just using up too much resources to make it worthwhile with the low trading volume. If its not that then maybe the dev team of those projects is shady somehow and they decided to delist instead of risk people losing funds.

Indeed, after Binance announces a coin that will be delisted from the exchange, its price drops sharply. But in the case of Tierion (TNT), this does not happen, the token moves in the usual price range, repeating the movements of the entire altcoin market. Obviously, this is because Binance is not the only exchange for TNT that is traded on 6 other cryptocurrency exchanges.

Respected/Reputable exchange will make a fair decision and should be with fact doing such action. POE and TNT didn't hit what Binance required, a little bit far from what they have shown earlier. The decision has taken just be sure that Binance will keep their name completely good. The delisting is the hardest part of these coins development but traders can still make a trade because there's exchanges accpeting it and they aren't yet delisting it just like what Binance did to them.

I am tired of changing the small value tokens to BNB but thanks to the Binance team for this option to clear the dust from the trading balance on exchanges. The reputable and established exchanges can change the rules for any project, I prefer quality over quantity.

Finally, an abandoned project called tierion will be delisted from binance. All of the social channels were not active. The volume could not become the reason why binance will delist it.
The developers have gone with all of the money raised during the crowdsale.

No update on tg channel, tg chat and all of groups were getting abandoned.

About what happens to the price, and the volume, it really depends if the coin is listed elsewhere. I see PIVX mentioned in the thread, that coin is traded on other exchanges, so that plays a role both in the volume on Binance and on its likeliness to stay on there.

About POE and TNT, trading will soon stop, but you still have time to get your coins, the deadline is : 2021/02/12 at 10:00 AM UTC.

So they will maintain a wallet until then.

im not really familiar with those coins but if they will delist those coins, it means they have good reasons to do so. better clean their list and remove those crappy ones.
 unlike other exchanges, they have long list of dead coins but still in their list. should do the cleaning every once in a while to keep their lineup neat with quality projects. i guess this action should be done by every exchange so we will only see active coins in trading.


i believe the major reason is the commitment of the team to the project. because if you will check their trading volume, they are not by any means the lowest.
so getting a snapshot from OP's link, the possible reasons -

https://i.imgur.com/mKfoJ1h.png

now up to you how you will assess their respective situation here

I've checked on CoinmarketCap, both of those coins aren't tradeable on binance anymore. Seems they have stopped the trading and we are only allowed to withdraw or exchange thosw coins before the deadline.

All we can do only click any coin/token we would to exchange to BNB coin, and it's done. How can it make you tired?

yups there are tons of Coins/tokens that is not worth having in Popular Exchange like Binance and this will only Hold their reputation in future.
There are no need for many listed currencies if they are not even giving Good value for investors and for the market.

---

But thanks to OP for this update Couple of my Friends invested on that Scam POE so i assume that at least they still have
 some to sell off before the delisting.

It's natural for POE to be delisted on Binance, because it has been 1 year that POE has not had any important announcements,
their social media has been down for a year, really disappointing, but take it easy you can sell it on Hitbtc and wazirx.

For sure they have valid reasons why delisted that coins because maybe there is no demand of buying, I like Binance exchange because once they see the tokens or coins are not potential they will remove it to their exchange which is good because they prevent traders to buy the coins who is not potential because they care about their traders because they want them to earn their traders not to lose money.

Hope this is the start of Binance in cleaning their exchange?there are many coins that must be delisted and not only these 2.

if they continue doing this then maybe bad impression will gone from those victims of scam coins listed on their platform.

Binance is indeed the best trading platform, if the conditions of an altcoin project are not met, then it will be delisted,
yes, it's sad to delete POE, because the POE - BTC pair is an important pair to maintain liquidity.
Move on and go away from POE!

Have list on future both coin POE and TNT? most interested to get profit if  listed on future because short is the best way before delist from binance exchange. I am waiting when Binance delist coin have listed on future, I see all delist coin from Binance always with coin not list on the future. Binance get profit with coin listing on their exchange market and delist POE, TNT will give chance for other coin to list on Binance then will have the same cases with TNT and POE delist again.

Binance delisted it because maybe POE and TNT didn't meet the volume every week from what binance needed to them.
And this scenario was always happen in the majority of the exchange platform. But as long as Binance get any profit to all coins listed
to their platform now, for sure there's no reason for them to delist it, just simple as that.

There’s a terms and conditions if they really want to get listed on Binance and those token knows this one because they will not pay that much if they are not confident with their token but most of the time, after the hype of token they get delisted on many exchanges, and this is the future of those not active token. Sell your holdings before they totally gone you wont regret selling it now.

Yes, should remove POE, TNT from the investment list because the coins will have no good future when binance delist it. A coin doesn't have good liquidity, it isn't able to last long, very quickly no one will notice it.