Binance Listings Spark 30% Rally, Delistings Trigger 70% Crashes

On January 29, Binance revealed the launch of new perpetual contracts for Moonbirbs (BIRB) and ETHGas (GWEI) against the USDT stablecoin, offering traders up to 50x leverage. These contracts, which have no expiry date and allow speculation without owning the underlying asset, were activated with a multi-assets mode. This feature permits users to employ other cryptocurrencies as collateral in the trading process. The announcement triggered an immediate and significant positive price reaction for both tokens, a typical market response to a Binance listing.

Backed by the exchange’s vast user base and reputation, newly listed assets often experience a surge in liquidity, availability, and perceived legitimacy. Following the news, GWEI posted a substantial gain of 30%, while BIRB experienced a slightly more modest double-digit increase. This event underscores how access to Binance’s sophisticated trading products, like leveraged perpetual contracts, can serve as a powerful catalyst for altcoin valuations, drawing immediate attention and capital from the platform’s global audience.

Concurrently, Binance exercised the other side of its market influence by announcing the removal of twelve cryptocurrencies from its Binance Alpha featured list. The exchange stated that tokens including WIZARD, SHOGGOTH, G, FWOG, UFD, BRIC, UPTOP, PORT3, XNAP, MORE, BOMB, and BOOST no longer adhered to its necessary standards. While the sale of these tokens will still be permitted after removal, their ejection from the prominent featured list delivered a severe blow to market confidence.

The price impact was swift and brutal. Most of the affected cryptocurrencies experienced sharp declines, with BOOST taking the most significant hit. Its valuation crashed by over 70% in the immediate aftermath of the disclosure. This dramatic sell-off illustrates the critical importance of exchange support for smaller-cap tokens. Removal from a major platform’s spotlight often leads to a rapid evaporation of liquidity and a steep de-rating as investors exit positions, fearing reduced accessibility and diminished trading volume.

Adding to the market turbulence, Binance disclosed plans to terminate several spot trading pairs on January 30. The affected pairs include AXS/ETH, NEAR/BNB, SEI/BNB, and SKL/BTC, among others. The assets involved in these pair removals were mostly trading in negative territory following the announcement, though their declines were milder than those of the fully delisted tokens like BOOST.

This reshuffling occurred against the backdrop of a renewed broader crypto market correction. Major benchmarks were under pressure, with Bitcoin (BTC) slipping below the $88,000 level and Ethereum (ETH) falling beneath the psychologically significant $3,000 mark. While the negative performance of assets like AXS, NEAR, SEI, and SKL can be partially attributed to this wider downturn, the termination of their specific trading pairs on the world’s largest exchange undoubtedly contributed to investor caution and selling pressure, compounding the market’s negative sentiment.