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- Binance launches community voting for token delisting, raising market concerns.
- Voting affects 21 tokens across various Ethereum-based projects.
- Industry experts speculate on potential market and regulatory impacts.
On March 21, 2025, Binance commenced a community-driven voting initiative for delisting select tokens, part of new efforts to empower user decisions within its cryptocurrency exchange platform.
The action aims to influence market structures and address concerns about token project voting legitimacy.
Community voting for delisting has been introduced, indicating a shift towards democratizing project decisions. Binance’s recent announcement impacts 21 tokens, primarily Ethereum-based, highlighting a noteworthy change in asset strategy. Implementing a community approach, Binance enables verified users holding BNB to actively participate in voting. This marks the second stage following the “Vote to List” initiative launched a day earlier.
The voting process specifies that results won’t solely determine final delistings, with Binance retaining the authority to review the project’s ongoing viability. As stated in a Binance official statement, “While we value and will take into consideration the vote results, the voting result will not be the sole deciding factor to determine the final delisting decision. Monitoring of the project is still undergoing evaluation, and the decision will be determined by Binance based on our official review processes and standards.” Binance emphasizes the necessity for integrity amidst accusations of biased voting favoring BNB Chain projects.
He Yi, Binance co-founder, acknowledged on social media that “next voting delisting on Binance will be for tokens that no one chooses,” revealing apprehensions surrounding token project forces potentially buying votes. Reactions from the community have been mixed, with some expressing support for Binance’s new protocol, while others question the lack of transparency in the voting mechanism.
JasmyCoin Faces Pressure: Price Drops 44% in 30 Days
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Since beginning in 2021, JasmyCoin’s market presence faced a drastic 63.99% decline in the last 90 days as per CoinMarketCap, contributing to concerns about its market viability amidst Binance’s new voting process.
JasmyCoin registers significant market activity, with a 24-hour trading volume of approximately 79.16 million dollars, despite recent declines. Trading at $0.0118, it reports a market cap of 582.27 million dollars with a fully diluted market cap approaching 588.8 million dollars. Data from CoinMarketCap highlight JASMY’s recent price falls, dropping 44.53% over the last 30 days.
Experts suggest this move could set precedence for regulatory frameworks as exchanges enhance interaction through community participation. Analysts underline potential financial ramifications, with projects now needing to maintain user engagement to avoid delisting criteria.
