Binance Delists PowerPool, CVP Price Plunges 8%
TOKEN
CVP
VGX
TOKEN
LOOM
- Binance delisted PowerPool’s CVP, turning the token volatile.
- PowerPool said that Binance did not provide an explanation for the delisting.
- Binance also delisted EPX, FOR, LOOM, REEF, and VGX.
Binance, the world’s largest cryptocurrency exchange, will delist PowerPool (CVP), a protocol for automating transactions. The news triggered an 8% drop in the altcoin’s price, pushing it into a short-term downtrend.
As per the official announcement from Binance crypto exchange, the delisting scheduled for August 26th, also affects Ellipsis (EPX), ForTube (FOR), Loom Network (LOOM), Reef (REEF), and VGX Token (VGX). Binance stated these tokens no longer meet its “standards or the industry landscape has changed.”
PowerPool responded to the delisting, calling the decision “completely unexpected.” The team claims Binance did not “provide any information on the specific reasons or triggers that led to the CVP delisting.” PowerPool highlighted its efforts to expand its reach and user adoption.
The protocol said that it had provided detailed reports to the Binance post-listing team after the exchange wanted to know about PowerPool’s activities. However, the exchan…
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