On April 16, Binance will remove 14 cryptocurrencies from its platform, part of an effort to clean house and enforce stricter quality standards for listed assets.
This move follows the exchange’s first-ever “vote to delist” initiative, where users were invited to flag underperforming or problematic projects. The final decision was based on a wide range of criteria, including developer activity, liquidity, market performance, team responsiveness, and alignment with evolving regulatory guidelines, according to Binance’s April 8 announcement.
The tokens being removed include: Badger (BADGER), Balancer (BAL), Beta Finance (BETA), Cream Finance (CREAM), Cortex (CTXF), Aaelf (ELF), Firo (FIRO), Kava Lend (HARD), NULS (NULS), Prosper (PROS), Status (SNT), TROY (TROY), UniLend (UFT), and VIDT DAO (VIDT).
Over the past year, Binance has steadily raised its standards for listed tokens to enhance user protection. For instance, in March 2024, the exchange extended the minimum lock-up period for newly listed tokens to one year, as reported by Bloomberg.
Tighter Token Standards Become Industry Trend
Binance isn’t alone in upping its game. Other platforms are also refining their listing criteria in response to heightened regulatory oversight. In October, Bitget revamped its process, placing more weight on metrics like fully diluted market cap, vesting schedules, and project fundamentals.
Meanwhile, South Korean exchanges have introduced stricter rules, including bans on tokens that haven’t been traded domestically for at least two years.
These changes come as the crypto industry faces an overwhelming influx of new coins. CoinMarketCap alone tracks over 13 million cryptocurrencies — though some experts believe the actual number is even higher.
The massive supply of altcoins has been cited as one reason the anticipated “altseason” failed to materialize in this cycle.
“Currently, there are more than 36.4 million altcoins in circulation — a dramatic rise compared to under 3,000 during the 2017-2018 boom and fewer than 500 back in 2013-2014,” analyst Ali Martinez shared on social media.
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