Two altcoins drop up to 10% after Binance delisting notice

Binance announced it will remove Epic Chain (EPIC) and QuickSwap (QUICK) from its platform, ending all spot trading for the two tokens effective October 28.

The exchange cited its latest periodic reviews as the basis for the delisting decision. Among the criteria Binance evaluates are trading volume, development activity, and team commitment.

QUICK plunges, EPIC recovers after Binance delisting news

Following the announcement, QUICK dropped roughly 10% from its price before the news on Binance. About 17 minutes later, the token remained 6.69% lower, data from TradingView showed.

EPIC similarly tumbled about 9% from its price before the notice but bounced back within the same timeframe, ending 5.61% higher than that level.

Such sharp drops after Binance delisting announcements have been seen before. In August, ICON (ICX) and Secret (SCRT) fell to new all-time lows, losing 12.5% and 18.8% after the exchange's notice.

Earlier that month, PIVX declined 19.27% and Vulcan Forged PYR (PYR) lost 18.31% following another announcement.

Vanar (VANRY) stood as an exception, climbing 8.23% despite initial declines, a recovery similar to EPIC's today. Typically, delisting by Binance reduces liquidity and forces holders to sell before trading ends.

Both tokens had been under Binance's Monitoring Tag for months prior to this delisting. QUICK received the tag on April 30, while Binance added EPIC on May 22.

The tag is applied to tokens viewed as more volatile and less than other listings. It cautions that assets may eventually fail its criterion.

Countdown: Key dates traders need to track before October 28

Binance will phase EPIC and across its products in stages from this week. What ends and timing.

• October 15: Binance suspends margin borrowing for both tokens pulling them from Buy & Sell Crypto service.
• October 22: Users cannot new positions futures positions, Binance all EPIC contracts. Same day, loans cleared, removes from margin trading and Binance Pay.
• October 21: Binance delists from more tokens machines. Four more - October 3: Simple Earn redeems positions to Accounts 13: That will soon remove new positions. October: Of two tokens 2023: Binance front page. Also, December binance one more positions strong. . Not guarantee.< li>
• October 27: Spot trading ends, open orders removed, Trading Bots stop on both pairs. Binary Convert and Gift card drop.
• October 29: Deposits of EPIC and Quick no longer credited than two token? (This
• December 28: Binance stops withdrawals articles.
• December 29: Binance may convert into stablecoins. But exchange said conversion not granted.

This timeline provides 6 days to close leverage positions and 2 weeks to exit spot before Binance halts trading.