Biswap Surges After Binance Delisting as New Roadmap Sparks Recovery

Following Binance’s delisting announcement, Biswap saw an impressive 100% surge within just a few hours.

The fluctuations in the crypto markets frequently defy fundamental analysis. On Thursday, June 26, Binance disclosed its decision to delist five tokens, including Biswap (BSW). Rather than causing a decline, this announcement led to a noticeable price increase.

In spite of the Binance delisting, this small-cap token surged by 118% in just hours, rising from $0.017 to a peak of $0.037. After this spike, Biswap’s price stabilized at $0.026, representing a 30% increase within the last 24 hours.

A potential reason for this price jump could be the introduction of a new roadmap by the project. Biswap has outlined plans to enhance decentralization, allowing users to vote on rewards instead of just farming the token passively. The protocol also disclosed plans for on-chain governance and updates to its tokenomics.

Reasons for Binance’s Delisting of Biswap

Binance routinely reviews the tokens on its platform to ensure compliance with listing standards. The exchange evaluates factors such as regulatory adherence, trading volume, liquidity, security, team commitment, and ownership structure. While Binance did not provide specific reasons for delisting Biswap or the other tokens, the announcement suggests that it failed to meet one or more of these criteria.

Launched in 2021 as a decentralized exchange on the BNB Chain, Biswap enables users to swap tokens, earn yield by providing liquidity, and stake crypto rewards. The token reached an all-time high of $2.13 in December 2021, but has since lost almost 99% of its value.

From its inception, Biswap has faced scrutiny regarding the security of its protocol and concerns over centralization. In June 2021, Valix Consulting identified a critical vulnerability in its code that allowed an attacker to mint unlimited BSW tokens through the exchange. Biswap subsequently addressed this issue.