After a day of thinking over, the Binance exchange decided on an immediate delisting of Centra (CTR) trading pairs. The project, which was targeted by the US Securities and Exchange Commission for fraud, was removed from Kucoin a day earlier.
Binance Delists Centra (CTR) Tokenhttps://t.co/iX3qh9rFdB— Binance (@binance) April 5, 2018
OKEx has also delisted the asset, and other exchanges are seeing next to zero volumes. Yet sometimes, even defunct assets have a second life – such as BitConnect, which is now used in purely speculative, low-volume paris on TradeSatoshi, a niche exchange with unknown capabilities and a relatively low reputation. BCC tokens now slide below $0.50, after commanding prices of above $400.
Curiously, the extremely risky CTR asset saw one last bout of trading on Binance, doubling in price overnight to $0.12. Trading is virtually zero on other markets, thus ensuring that CTR will immediately become a defunct digital asset with zero value. This is also the case of defunct ICO Confido, which sees virtually frozen trading and has no chance of revival. Binance remained the only exchange in the past day allowing some CTR activity.
Curiously, Centra was supposed to present at the Deconomy forum in Seoul, which is seeing most large projects gathered to increase their visibility and present their ideas. Until the very last, the project updated on its progress, and even released a beta version wallet.
And while other projects and hacks have caused bigger losses in terms of Ethereum, exploiting ICOs is seen as potentially damaging a funding resource for good projects. Yet scam ICOs continue, usually marketing themselves under the radar of the crypto community.
Binance Login Issues
In addition to the Centra fallout, Binance once again frightened the markets by blocking logins for a short time yesterday. Since the exchange has gained large influence, the event may have caused the temporary downturn of prices, pushing Bitcoin down below $7,000 again.
Login issues now resolved. If you repeatedly attempted to log in previously, you may still experience some issues; please create a support ticket if this is the case.— Binance (@binance) April 4, 2018
Thank you for your understanding and support.
The issue was resolved, but all exchange troubles are causing worries. At the moment, the market recoveries tend to be fragile, and bad news is further depleting mainstream trust in crypto coins.