Voxie (VOXEL), a tactical GameFi project on the Polygon blockchain, recently recorded an unprecedented rise of more than 700% in three days after being announced on the second Binance Vote to Delist batch.
Unexpected Top Gainers Today: Binance’s 2nd Vote to Delist Tokens
On this Sunday, the cryptocurrency market is experiencing an unexpected surge in activity primarily driven by tokens featured in the second Binance Vote to Delist, deviating from the typical influence of major projects. The absence of significant participation from ETF entities or large institutional funds has created an opportunity for smaller projects, particularly those facing potential delisting from the Binance exchange, to take center stage.
Specifically, VOXEL is leading the day’s upward momentum with a dramatic increase of 745%. Following this significant gain are NKN, exhibiting a substantial rise of 270%, and ALPACA, with a notable growth of 150%.
VOXEL up 745%! – Source: TradingView
“Every Cloud has a Silver Lining”
While the observed growth in these projects may appear encouraging, it also serves as a significant warning for holders. It is crucial to recognize that inclusion in Binance’s Batch Vote to Delist typically signifies their prior categorization under Binance Monitoring Tags. These are projects that have largely become technologically outdated, exhibit limited community engagement, lack clear long-term strategic direction, or are led by individuals with questionable credibility.
Consequently, these projects carry exceptionally high risks and pose a potential threat to users’ investments.
The recent price surges experienced by projects within this batch, despite their impending delisting, do indicate that these assets can still exhibit upward momentum even after being placed on Binance’s ‘blacklist.’ However, such rallies are generally transient in nature.
Historically, projects facing delisting announcements from Binance often experience a price surge immediately before or after their removal from the exchange. This phenomenon is widely interpreted as a profit-taking opportunity before the projects gradually fade into obscurity. Notable examples include $BURGER and $REN.
$REN faced hard dump before rise significantly in November 26th – Source: TradingView
It is crucial to exercise caution and avoid succumbing to FOMO regarding projects currently listed under such high-risk conditions. In scenarios like these, instead of buying in anticipation of a project’s revival, investors might consider strategically identifying the point at which the FOMO-driven momentum subsides to initiate short positions in perpetual contracts.
