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Binance Kicks Another Five Altcoins Out, Prices Crash
By Sead Fadilpašić
February 15, 2019
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Binance Kicks Another Five Altcoins Out, Prices Crash 101
Source: iStock/PJPhoto69
Major cryptocurrency exchange Binance has decided to delist another five coins on February 22, prompting sell off.
The coins that are being delisted are CloakCoin (CLOAK), Modum (MOD), SALT (SALT), Substratum (SUB), and Wings (WINGS).
"At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it," the exchange explained.
CloakCoin (CLOAK), ranked 371st by market capitalization, had its price fall by 17% in the past 24 hours (UTC 09:40 AM,) partially due to the news, as 73% of its trading volume came from Binance. It is a privacy coin that is designed to facilitate anonymous and trustless decentralized transfers.
Modum (MOD), ranked 354th by market capitalization, saw the same price decrease of 17%. The coin got 99% of its trading volume from this exchange in the past 24 hours. It is “set to revolutionize and disrupt the supply-chain industry,” according to its official website, but it seems to be stuck somewhere, as there have been very few big news from the team.
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