Connect with us

Alt Coin

Bytecoin is currently struggling, however could end up being delisted

Published

on

Bytecoin just before the drop to $0.001741 on 12th September, had encountered a peak of $0.002194. And from then the coin strived hard to break through the $0.002 until the 21st when Bytecoin explodes up to $0.002362 with a strong volume of $7.5 million behind the move. And again after a mere drop, it rose up to $0.002518 on 28th September.

Bytecoin Insights

And from then the coin reacted somewhat and kept hovering around $0.0022 until today. As significant news from Binance dropped today, Bytecoin experienced a massive drop-off which led the price to its current monthly lows of $0.001696.
The Bytecoin is priced at USD 0.001591 (-11.18% drop in the last 24 hours)/0.00000024 BTC (-7.82% rise in the previous 24 hours). And the value is 90.08% lower than the currency’s all-time high of $0.018631.

Regarding daily trade volume currently sits at $11,457,577 USD/1,734 BTC, with Binance (over 60%) and Poloniex (20%) amounting to most of that. And with a $100 million loss in valuation during the last day, the coin’s market cap is sitting at $276,311,676, making Bytecoin the 30th most valuable cryptocurrency on the market.

And meanwhile, according to some reports along with coins like ChatCoin, Iconomi, and Triggers, Bytecoin is getting de-listed from the arguably biggest exchange in the world of Binance.

Binance formed a decision after repeating their policy to perform regularly listed asset re-evaluation to “maintain a high standard of quality” on their platform that 4 cryptocurrencies aren’t up to par to stay on the exchange anymore.
The exchange-listed several key factors which have been assessed and strongly influenced its final decision:

  • The commitment of the team to project
  • Quality and level of development activity
  • Network / smart contract stability
  • Level of public communication and activity
  • Responsiveness to our periodic due diligence
  • Evidence of unethical/fraudulent conduct
  • Contribution to a healthy and sustainable crypto ecosystem

Apart from that the exchange also mentioned that it’d delist and stop trading all the trading pairs for these cryptocurrencies on October 12th, 2018.
Whereas the token holders are allowed up till 12th November to withdrawal from Binance, otherwise they could end up losing all their tokens.
The community expressed their mixed emotions where some said how can these Shitcoins even got listed on the first place of Binance & on the other hand some greeted them.

Later Bytecoin had released a couple of updates after the dense network fork was set on block1629055 which switched the height but the actual switch happened on October 1st. After that, Bytecoin software before 3.3.0 became outdated due to which the network was ready to accept 0 fee transactions. However, the version V3.3.1 was released shortly after that, Providing users the hard-fork promised dynamic fees and API improvements. Finally, Bytecoin will have its Binance de-listing woes slightly eased by their listing on Gate.io.

Overall, the Bytecoin is still struggling for air right now. Moreover, the investors are also quite intimidated with their work.

Vishal Saha, a guy who often remains obsessed crawling the web, also keeps a deep interest in the world of Cryptocurrency & Blockchain Technology. Apart from being a blockchain reporter, writing is also an integral part of his life and always prefers to be surrounded with geeky stuff, and try to keep up with the current affairs.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Trending