ALCX Price Falls After Binance Announces Delisting, Asset Withdrawals Surge
ALCX Price Drops After Binance Delisting Announcement as Investors Move Funds
ALCX came under strong selling pressure after Binance announced it would delist the token. The announcement caused the price to fall sharply and prompted many investors to move their funds before trading officially ends on July 10.
On-chain data shows that after Binance made the announcement on June 26, ALCX price dropped around 30%. At the same time, withdrawals from Binance increased significantly as users rushed to move their tokens.
Binance Sees Surge in ALCX Withdrawals
After Binance confirmed it would remove ALCX trading pairs, withdrawal activity jumped dramatically. Daily withdrawals rose from fewer than 20 transactions to 614 transactions on July 1, marking a 1,289% increase compared to the previous week.
Trading activity also increased in both directions. Deposits of ALCX into Binance surged 3,856%, while withdrawals climbed 1,484%.
This suggests investors are adjusting their positions before the delisting. Some users are sending ALCX back to Binance to sell before trading ends, while others are moving their tokens to private wallets or other exchanges that will continue supporting ALCX.
As a result, liquidity is gradually shifting away from Binance.
Network Activity Rises Despite Price Decline
Although ALCX price fell sharply, activity on the blockchain increased.
The number of active wallet addresses rose 107%, while total token transfers jumped 510% following the delisting announcement.
However, this increase does not necessarily indicate stronger demand or wider adoption. Instead, it appears that investors are simply reorganizing their holdings by transferring tokens between wallets and exchanges ahead of Binance’s delisting.
Data also shows Binance continues to experience negative net flows, meaning more ALCX is leaving the exchange than entering it. This further indicates that liquidity is moving to other trading platforms.
Liquidity Shift Could Keep Price Volatile
The on-chain data suggests ALCX is currently going through a major redistribution of liquidity rather than normal market trading.
Since Binance has been one of the token’s main trading venues, its decision to delist ALCX has forced traders and market makers to move funds to other exchanges.
With the July 10 deadline approaching, ALCX could remain highly volatile as the market adjusts to the new trading environment.
While the data points to heavy selling pressure and large fund movements, most of the recent blockchain activity appears to be driven by investors protecting their positions rather than growing interest in the project. The longer-term outlook for ALCX will likely depend on how quickly liquidity stabilizes on the exchanges that continue to list the token.
