Binance said it will delist spot trading pairs for ICON, Secret and Storj on September 3, extending a selloff that pushed all three tokens to new record lows soon after the announcement. The exchange said the decision followed its regular asset review process, but it did not identify which specific listing criteria each token failed to meet.

The three projects were already under separate pressure before the Binance notice. Secret is approaching a planned network migration, ICON is heading toward a shutdown and token swap, and Storj is dealing with the fallout from a Chapter 11 filing by its parent company.

Binance sets trading, deposit and withdrawal deadlines

According to Binance, spot trading for the affected pairs will end at 03:00 UTC on September 3. The exchange said it periodically reviews listed assets and may remove tokens that no longer meet its standards or when market conditions change.

Binance said its review process considers factors including team commitment, development activity and quality, trading volume and liquidity, network stability and security, community sentiment, and how projects respond to due diligence requests. It did not say which of those factors applied to ICX, SCRT or STORJ individually.

After the trading halt, deposits for the three tokens will no longer be credited after September 4. Withdrawals are expected to remain available until November 3, and Binance said it may begin converting remaining balances into stablecoins from November 4.

Secret and ICON hit by platform changes

Secret’s token, SCRT, fell to an all-time low of $0.02073. The source article said the token was down 18.8% over 24 hours and 24.4% over the past week, as the project also faces a migration-related disruption.

SCRT Labs plans to end official support for the Cosmos-based Secret network on September 1 and shift to a new ERC-20 version on Arbitrum. That timetable leaves the token facing major operational changes just ahead of Binance’s delisting date.

ICON’s ICX also dropped to a fresh low, reaching $0.01529. The token was down 12.5% on the day, following a 19.1% decline over seven days after Binance had previously placed it under a Monitoring Tag warning. The network itself is scheduled to shut down permanently, with holders required to migrate into SODA tokens through the Soda Xchange merger.

Storj adds delisting to bankruptcy overhang

Storj entered the Binance announcement with a different set of problems. Its parent company filed for Chapter 11 bankruptcy protection on July 26, saying the process was aimed at resolving legacy liabilities while outlining a proposal under which STORJ holders could claim equity in the reorganized business.

The bankruptcy news had already triggered a 20% one-day drop last month, according to the source report. On the day of Binance’s latest notice, STORJ briefly touched a new all-time low of $0.03749 before trading at $0.04131, up 3% in the session, while volume was reported to have risen 85.2%.

All three tokens remain deeply below past highs

The report said ICX, SCRT and STORJ are each now more than 98% below their historical peaks, underscoring how far the assets have fallen as exchange access shrinks and project-specific challenges mount.

For Storj, Binance is not the only venue planning a removal. The source article said South Korean exchanges Upbit and Bithumb also intend to delist STORJ on September 14.

The next confirmed milestone is Binance’s September 3 trading cutoff, followed by the September 4 deposit deadline and the November 3 withdrawal deadline. Separate project timelines, including Secret’s planned September 1 support end and ICON’s migration to SODA, are also likely to remain central for token holders.

Source: beincrypto.com