TRIAS token price drops 30% after the KuCoin delisting FUD
Key Takeaways:
Trias token price lost 30% of its valuation in two days.
A further 10% slide is in the books.
The KuCoin delisting FUD triggered the drop.
YEREVAN (CoinChapter.com) – Trias token price tumbled 30% in the previous two days and reached $2.53 in the European session on Sep 20.
Trias token price could lose another 10%
The coin lost the support that prevented sharp declines since October 2022 and headed towards the resistance-turned-support bar at $2.0-2.3, another 10% slide for TRIAS.
Notably, the TRIAS trading volumes also dropped by 15% in the previous 24 hours, which could indicate that fewer market participants are behind the dump. Meanwhile, the alleged KuCoin delisting might be behind the Trias coin price drop.
KuCoin did NOT confirm a TRIAS delisting
On Sep 19, a rumor circulated on X.com (former Twitter) that the KuCoin exchange, the main Trias market, issued a “Special Treatment” (ST) tag for Trias, which could lead to a delisting. In short, KuCoin defines the ST tag as a mandatory review over a specified period that is designed to protect users from fishy projects.
Several Trias enthusiasts reposted a screenshot with a list of reasons KuCoin could include an asset in ST projects.
Meanwhile, the Trias team announced the launch of its Global Exchange Listing Plans on Sep 19.
In response to the evolving requirements of KuCoin’s development and regulatory compliance, Trias has expanded its global presence by introducing three new secondary trading venues for our community users.
read the press release.
Furthermore, the team noted that Trias actively engaged in negotiations with “compliant, localized exchanges for potential partnerships.” The main two targets for raising liquidity were Gate.io and MEXC, with current liquidity of 7.2% and 18.6%, respectively. BitMart also made the list.
Does TRIAS fit the ST narrative? It’s not really clear. Neither Trias nor KuCoin confirmed whether the coin will move out of the exchange in the near future.
While the delisting speculations rose from the alleged ST tag, KuCoin has not yet confirmed the news and did not include TRIAS in the official delisting page. Possibly, some coin holders gave in to the FUD dumped their tokens, and that’s why Trias token price dropped.
The post TRIAS token price drops 30% after the KuCoin delisting FUD appeared first on CoinChapter.
Filed under: Bitcoin - @ September 20, 2023 6:14 pm