Binance recently conducted a community vote to check which additional tokens users wanted to see available on the platform. The exchange honored the final results and accepted Ondo (ONDO), Big Time (BIGTIME), and Virtuals Protocol (VIRTUAL). The newly introduced spot trading pairs include ONDO/USDT, ONDO/USDC, BIGTIME/USDT, BIGTIME/USDC, VIRTUAL/USDT, and VIRTUAL/USDC.
It should be noted that the altcoins previously available on Binance Alpha will no longer be featured there, and users can now transfer any available holdings related to the assets into their spot accounts.
"The purchase function for the above-mentioned tokens will be halted on Binance Alpha when spot trading opens on Binance Spot. The selling function on Binance Alpha will not be affected."
According to the announcement, after the token was removed from Binance Alpha, users can still view their Alpha token balances from their Alpha Account and transfer them to their Spot Account to continue trading on Binance Spot.
The added tokens surged significantly right after the news. BIGTIME skyrocketed 25% daily to a two-month high of over $0.07. VIRTUAL also saw double-digit increases on the 24-hour scale, while ONDO recorded less significant gains.
Support from Binance provides higher liquidity for the mentioned tokens and adds further reliability to them. Therefore, the aforementioned price increase should not be considered a surprise.
It is important to note that the exchange lists ONDO, BIGTIME, and VIRTUAL with applied seed tags. This section includes early-stage projects with high potential but also greater risks. This will serve as a warning for people to be cautious when participating, conduct due diligence beforehand, and only invest what they are willing to lose.
Delisting causes a backlash
Earlier this month, Binance removed 14 altcoins from its platform, causing the prices of the affected coins to drop significantly. Cream (CREAM) and Beta Finance (BETA) suffered the worst consequences, plummeting about 60% immediately after the announcement.
A similar incident occurred last October when the company terminated all trading services with Rupiah Token (IDRT), Keep3rV1 (KP3R), Ooki Protocol (OOKI), and Unifi Protocol DAO (UNFI).