Although the Crypto market was quite gloomy yesterday, on Binance there were a number of tokens that increased sharply in price, the most prominent of which was MULTI, which increased at 3-digit percent.
In the list of coins with the strongest increase in price yesterday, the most prominent names among them are MULTI, VGX, OOKI…
These coins have all gained at least a few dozen percent. MULTI even increased 2.5 times in a short time, thereby jumping to the top of the list of the strongest increasing coins on Binance.
What these coins have in common is that they are all tagged with the Monitoring tag by Binance. This tagging implies that these are all closed projects or have serious problems, which need to be reviewed by this exchange.
>> Most are coins at risk of being delisted by Binance
Factors when Binance considers delisting an asset include:
– Development Activities: Quality and development progress of the project.
– Community Interaction: The level of communication and interaction with the user community through the community platform
– Trading Volume and Liquidity: The trading level and liquidity of the asset.
Another interesting thing is that when looking at the 3 coins mentioned above, we can see that these are the names that will be delisted by Coinbase in the near future.
Specifically, Coinbase recently announced that it will delist 6 tokens because they do not meet the standards of this exchange.
BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI) and Voyager (VGX) will be delisted at 9:00 a.m. Pacific Time (PT) on September 6. It can be seen that 3 of these, MULTI, OOKI and VGX, increased sharply on Binance yesterday.
>> Most of them are coins about to be delisted by Coinbase
If you look at the background of the coin with the highest increase, MULTI, you can see that this project has recently been involved in many “controversies” from being hacked to news of the CEO being arrested and finally the platform stopping operations.
The same thing happened with VGX when Voyager filed for bankruptcy late last year due to the consequences of FTX’s collapse.
OOKI was not much better when the platform lost the lawsuit, had to pay a fine and left the US.
Specifically, in early June, US District Judge William H. Orrick ruled that Ooki DAO operated an illegal trading platform and illegally operated as a commodity futures broker. register (FCM). He asked the organization to pay a fine of $643,542, as well as permanently cease operations and close its website.
> Projects that have stopped working or are in serious trouble
, DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI) and Voyager (VGX) will be delisted at 9:00 a.m. Pacific Time (PT) on September 6. It can be seen that 3 of these, MULTI, OOKI and VGX, increased sharply on Binance yesterday.){kind=link}