On March 21, 2025, Binance announced the launch of the 'voting delisting' mechanism, allowing community users to vote on projects with monitoring tags to decide whether to delist them. It's like a 'draft elimination match' in the cryptocurrency world, except the judges are ordinary users holding 0.01 BNB, while the eliminated contestants are those poorly performing coins.

Binance's Delisting Vote: The 'Talent Show' of the Cryptocurrency World

Binance's delisting voting mechanism is like a 'Cryptocurrency Talent Show', where community users act as judges and coins are the contestants. Judges hold 'voting rights' of 0.01 BNB to decide which coins should 'pack up and go home'. This mechanism reflects two major trends in the market:

  1. Tightening Regulations: Binance's 'Compliance Survival Instinct'
    Global regulatory bodies are increasingly watching cryptocurrencies closely, forcing Binance to 'cut off its limbs' by delisting coins that may cause trouble. After all, no one wants to become a 'focus of attention' for regulators.

  2. Market De-leveraging: The 'Slimming Plan' in the Crypto Circle
    During a bull market, various coins inflate like balloons; in a bear market, the balloons are popped one by one. Binance's delisting vote is like a 'slimming plan', kicking out those 'overweight' coins and leaving behind the truly capable players. The current state of the cryptocurrency market: Bitcoin is the 'Big Brother', while altcoins are 'trembling'. Behind this differentiation are several interesting reasons:

  3. Fund Flow: Bitcoin as a 'Safe Haven'
    Amid increasing market uncertainty, funds flow towards Bitcoin like refugees. Altcoins can only watch helplessly, silently wishing, 'Big Brother, share some soup with me!'

  4. Investor Risk Appetite: From 'Adventurers' to 'Cowards'
    The uncertainty of the global economic environment has transformed investors from 'adventurers' into 'cowards'. High-risk altcoins? Sorry, let's just buy some Bitcoin to calm our nerves.

  5. Technological Innovation: The 'PPT Dreams' of Altcoins Shattered
    Many altcoins' technological innovations are still at the 'PPT stage', and the market's confidence in them is gradually diminishing. After all, just painting a big pie won't fill your stomach.

Ethereum's Weak Performance: Why Has the Former 'Star Player' 'Faded'?

Ethereum (ETH), as a 'star player' in the cryptocurrency market, has recently wilted like a frostbitten eggplant. Its price performance is weak, and some are even calling for 'delisting ETH'. There are several 'heart-wrenching' reasons behind this:

Layer 2 Competition: Ethereum's 'Backyard on Fire'
Although Ethereum is the 'Big Brother' of smart contract platforms, up-and-coming platforms like Solana and Avalanche are stealing its limelight. These platforms offer fast transaction speeds and low fees, causing users and funds to be diverted from Ethereum, which is quite painful!

  1. Ethereum 2.0: Upgrading Like 'A Snail Crawling'
    The Ethereum 2.0 upgrade plan was supposed to solve network congestion and high Gas fee issues, but its progress is as slow as a snail. Market expectations for short-term improvements are gradually turning into 'disappointment'.

  2. DeFi and NFT Market: From 'Booming' to 'Cooling Off'
    The core applications of the Ethereum ecosystem—DeFi and NFTs—have recently seen a decline in popularity, leading to a decrease in ETH demand. The once 'money tree' has now become a 'money grass'.

  3. Macroeconomic Environment: The Federal Reserve's 'Interest Rate Club'
    The Federal Reserve's interest rate hikes have put pressure on risk assets, and as a high-volatility asset, ETH naturally cannot escape. It's like an 'indiscriminate attack', and ETH can only bear it silently.

Why is the market calling for 'delisting ETH'? Ethereum's 'Midlife Crisis'

Despite Ethereum's prominent position in the cryptocurrency market, there have been recent calls to 'delist ETH'. It's as if Ethereum is experiencing a 'midlife crisis', leading to the following doubts from the market:

  1. Technical Bottleneck: Ethereum's 'Traffic Jam Woes'
    The high Gas fees and congestion issues of the Ethereum network have long remained unresolved, prompting users and developers to turn to other platforms. It's like a highway that has been congested for years, forcing drivers to take detours.

  2. Competitive Pressure: Ethereum's 'New Waves Coming'
    As more high-performance public chains emerge, Ethereum's market share is under threat. Some investors believe that ETH may no longer be the 'only choice' for smart contract platforms.

  3. Regulatory Risk: Ethereum's 'Compliance Anxiety'
    As the main platform for decentralized applications, Ethereum may face greater regulatory pressure. This uncertainty has caused some exchanges and investors to adopt a cautious attitude. However, as an 'established player' in the blockchain ecosystem, Ethereum's position is unlikely to be completely replaced in the short term. The market's doubts about ETH are more of a 'complaint' rooted in short-term sentiment rather than a denial of its long-term value.

Conclusion: The Market's 'Self-Adjustment' and Ethereum's 'Road to Comeback'

The Binance delisting voting incident and Ethereum's weak performance reflect that the current cryptocurrency market is undergoing a profound 'self-adjustment'. As the market matures and regulation improves, only projects truly possessing technological strength and application value can stand out. For investors, this stage is both a challenge and an opportunity. In the future market, focusing on technological innovation, ecosystem building, and long-term value will be key to navigating uncertainty and achieving returns.

Although Ethereum faces short-term pressure, its core position in the blockchain ecosystem remains solid. With the gradual advancement of Ethereum 2.0 and the continued development of the ecosystem, ETH still has the potential to regain market favor in the future. After all, who hasn't experienced a 'midlife crisis'? Survive it, and you'll be a hero!
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