The results of the second delist voting organized by Binance are raising alarms in the cryptocurrency market. This voting allows users to decide which altcoins should remain on the platform.
FTT Ranks at the Top of the Rejected Altcoin List
FTX's token FTT received 11.1% of votes, making it the most rejected altcoin by the community. Following the collapse in November 2022, FTT has continuously lost value, and its price dropped by an additional 4.1% within the last 24 hours, currently standing at $0.81.
Declining Community Confidence
In addition to FTT, Zcash (ZEC) and JasmyCoin (JASMY) each received 8.6% of the votes, placing them second. GoPlus Security (GPS) with 8.2% and PlayDapp (PDA) with 7.6% were also mentioned. These tokens faced price declines, with JASMY and STPT losing around 6% of their value.
Community Participation in Decision-Making
According to Binance officials, the voting results alone are not decisive; the final decision will consider volatility, trading activity, and overall risk analysis. However, the distribution of votes indicates a growing lack of confidence in certain altcoins within the community.
Thus, the Binance voting highlights the importance of community opinion in decision-making within the cryptocurrency market and points towards tokens that are losing investor confidence.
