Cryptocurrency exchange Binance announced a new delisting wave on August 20, targeting three aging altcoins: ICON, Secret, and Storj. Following the announcement, all three tokens plunged to fresh all-time lows within hours. The affected assets will lose their spot trading pairs on September 3, according to an official notice from the exchange.
Binance stated that the decision resulted from its periodic asset review process. The review evaluates factors such as team commitment, development quality, trading volume, network security, community responsiveness, and adherence to industry standards. Spot trading pairs for the three tokens will close at 03:00 UTC on September 3, and deposits will no longer be credited after September 4. Withdrawals will remain available until November 3, and Binance may convert remaining balances into stablecoins starting November 4.
In addition to the exchange removal, each token faces separate structural and operational crises:
- Secret (SCRT): The token dropped to an all-time low of $0.02073, marking an 18.8% decline over 24 hours. The drop coincides with a migration crisis, as SCRT Labs plans to end official support for the Cosmos-based network on September 1 ahead of a move to an ERC-20 version on Arbitrum.
- ICON (ICX): ICON fell to an all-time low of $0.01529, down 12.5% in 24 hours, following an earlier Monitoring Tag warning from Binance on August 11. The network is scheduled to shut down permanently, requiring holders to migrate to SODA tokens via the Soda Xchange merger.
- Storj (STORJ): Storj Labs, the parent company, filed for Chapter 11 bankruptcy protection on July 26 to resolve legacy liabilities while offering token holders a path to claim equity in the reorganized business. Despite touching an all-time low of $0.03749, Storj later traded at $0.04131 with an increase in daily trading volume. Separately, Upbit and Bithumb plan to delist Storj on September 14.
All three tokens currently trade more than 98% below their historical peak prices.
