Binance has announced the delisting of five altcoins, triggering sharp price declines. Syscoin (SYS) plummeted 34% in 24 hours, with Automata (ATA), Harvest Finance (FARM), Enzyme (MLN), and Phoenix (PHB) also falling heavily. The exchange stated the removal, effective May 27, followed a review to ensure listed coins meet its standards. This follows similar delistings in April that caused comparable market reactions.
Binance has delisted five cryptocurrencies following a periodic review, causing significant price drops. The affected assets are Automata (ATA), Harvest Finance (FARM), Enzyme (MLN), Phoenix (PHB), and Syscoin (SYS).
The exchange stated the decision was made to ensure all listed coins meet high standards and industry requirements. Trading and other services for these tokens will cease on May 27.
Deposits will not be credited after May 28, though withdrawals remain available until July 27. The announcement immediately sparked double-digit declines across all five coins.
Syscoin experienced the most severe crash, with its valuation tumbling by 34%. Such reactions are common when a major exchange removes support, often leading to reduced liquidity and market visibility.
This pattern occurred recently when Binance delisted several other tokens in April. Assets like Beefy.Finance (BIFI) and FunToken (FUN) posted similar losses at that time.
Separately, the exchange has been expanding its margin trading pairs, recently adding MEGA/U, TON/U, and TON/USD1. It has also focused on integrating the United Stables (U) dollar-pegged stablecoin into more products.
Binance also announced a promotion allowing users to spend U tokens with Binance Cards for 15% cashback. The exchange specified the reward will be distributed in company-designated tokens before June 30.
