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Binance, the world’s largest cryptocurrency exchange by trading volume, has announced that it will delist three altcoins — Flamingo (FLM), Kadena (KDA), and Perpetual Protocol (PERP) — as part of its routine review process. The exchange stated that spot trading for these assets will end on November 12, 2025, at 03:00 UTC, marking the beginning of a series of delisting-related changes across its platform.
According to Binance’s official announcement, deposits for the three assets made after November 13 at 03:00 UTC will not be credited, and withdrawals will no longer be supported after January 12, 2026. The exchange emphasized that once spot trading ceases, all open trade orders will be automatically canceled in their respective pairs.
Binance regularly conducts evaluations of all listed tokens to ensure they meet the platform’s performance and compliance standards. Factors considered include development activity, liquidity, team commitment, network stability, transparency, and regulatory alignment. Tokens that fail to meet these standards may face suspension or removal to maintain market integrity and user protection.
In its statement, Binance explained,
“When a coin or token no longer meets our listing standards or when the industry landscape changes, we conduct a thorough review and, if necessary, delist it. Our goal is to provide the best trading environment and ensure our users are protected.”
Delisting Timeline and Impact on Binance Services
The delisting will affect multiple Binance services beyond spot trading. Spot Copy Trading for the affected tokens will end on November 5, while margin trading will conclude a day earlier, on November 4. Margin borrowing for FLM, KDA, and PERP will be suspended from October 30, and Binance Convert services for these assets will be discontinued on November 6.
Additionally, Binance’s mining pool services for the three tokens will end on November 4. While futures contracts linked to FLM, KDA, and PERP will remain tradable, Binance warned that these markets may be subject to additional risk management measures as liquidity and volatility evolve post-delisting.
This comprehensive phase-out process reflects Binance’s attempt to minimize disruptions while maintaining regulatory and operational consistency across its ecosystem.
Market Reactions: FLM Surges, KDA and PERP Decline
The market’s reaction to Binance’s delisting announcement was mixed. Typically, delisting news prompts sharp selloffs as traders exit positions ahead of reduced liquidity. However, Flamingo (FLM) defied expectations by surging 19.7% shortly after the news broke.
In contrast, Kadena (KDA) dropped 3.43%, extending its existing downtrend that began following the Kadena organization’s restructuring and ongoing challenges in maintaining ecosystem growth. Perpetual Protocol (PERP) also slipped 1.37%, continuing its mild decline amid low trading volume and subdued market sentiment.
FLM’s unexpected rally stood out sharply. Market analysts noted that the sudden buying pressure resembled the earlier case of Alpaca Finance (ALPACA), which soared 71% after Binance delisted it in early 2025. That incident sparked debate over potential speculative manipulation surrounding delisted tokens.
“Binance will delist FLM on Nov 12, yet the token spiked immediately — big pumps often mean big risk,” one market watcher commented on X (formerly Twitter).
Traders Question FLM’s Rally and Market Dynamics
The sharp move in FLM following the delisting has raised eyebrows among traders and analysts. Under normal conditions, delisting announcements tend to trigger mass selloffs, as delisted tokens lose visibility and liquidity on one of the world’s most significant exchanges.
However, FLM’s double-digit surge suggests that speculative traders may be exploiting short-term volatility, expecting temporary price rebounds before liquidity dries up. Similar phenomena have occurred with other delisted tokens, where short squeezes or algorithmic trades generate price spikes before steep corrections.
Analysts at CoinMarketFlow noted that institutional players rarely engage in delisted tokens, leaving price movements largely in the hands of high-frequency or retail-driven speculation. This can result in temporary volatility without long-term sustainability.
Meanwhile, KDA’s continued weakness highlights investor concerns about ecosystem stagnation and limited development progress. PERP’s mild decline, on the other hand, suggests that liquidity providers have already adjusted exposure ahead of the delisting date, softening the impact.
Upholding Market Standards Amid Evolving Conditions
Binance’s latest delisting round underscores its ongoing efforts to maintain quality standards in a fast-changing crypto landscape. The exchange regularly removes assets that fail to meet its internal benchmarks for liquidity, user demand, or regulatory compliance, ensuring a cleaner trading environment.
While delisting announcements often stir short-term volatility, they also serve as a signal of market maturity, highlighting exchanges’ willingness to adapt and refine their listings to protect users.
The contrasting reactions from FLM, KDA, and PERP reflect the unpredictable nature of market psychology, where speculation and sentiment can occasionally outweigh fundamentals.
As the November delisting approaches, traders and investors are advised to monitor liquidity levels closely, manage exposure to affected tokens, and remain cautious of speculative rallies that may not hold once trading access tightens.
