Many leading cryptocurrencies experienced volatility in the past 24 hours, but their swings pale in comparison to the severe declines suffered by five lesser-known altcoins.
The cause of the collapse was Binance’s recent delisting announcement.
The Heavy Bleeding
The world’s largest cryptocurrency exchange said it completed a periodic review to ensure that all listed tokens meet its standards and industry requirements. Following that evaluation, Binance announced it will end support for Automata (ATA), Harvest Finance (FARM), Enzyme (MLN), Phoenix (PHB), and Syscoin (SYS).
The delisting is scheduled for May 27. Binance clarified that deposits of these tokens will not be credited to users’ accounts after May 28, while withdrawals will remain available until July 27.
The announcement triggered steep declines in the affected tokens. Each fell by double digits immediately after the disclosure, with SYS suffering the largest drop, tumbling roughly 34%.
Such market reactions are unsurprising: losing support from a major exchange like Binance typically reduces liquidity, diminishes market visibility, and damages a token’s reputation, often driving rapid price drops.
Binance’s delisting wave is not unprecedented. In April, tokens such as Beefy.Finance (BIFI), FunToken (FUN), FIO Protocol (FIO), Orchid (OXT), Measurable Data Token (MDT), and Wanchain (WAN) saw significant losses after being removed from the platform. Shortly after that round, Dego Finance (DEGO), DENT (DENT), and TrueFi (TRU) experienced similar declines following delisting notices.
Other Recent Updates
Earlier this week, Binance added MEGA/U, TON/U, and TON/USD1 to its margin program. These additions largely involved United Stables (U), a stablecoin introduced in late 2025 and pegged to the U.S. dollar.
In recent months, the exchange also expanded spot trading pairs by adding XRP/U, SUI/U, ASTER/U, and PAXG/U. It further included AVNT/U, BIO/U, CHIP/U, KAT/U, CHIP/USD1, and XAUT/USD1 on Cross Margin.
Binance recently announced that users can spend U tokens via Binance Cards and receive 15% cashback. The program features no conversion fees and no foreign exchange (FX) charges.
The company said the reward will be distributed in tokens selected by Binance at its sole discretion, and will be issued before June 30. Binance noted the cashback is non-transferable, non-exchangeable, and cannot be redeemed for cash or any other benefit.