While KDA and PERP crash after Binance’s delisting, FLM rallies | Credit: Veronica Cestari
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Key Takeaways
KDA plunged 25%, with technicals signaling possible new lows below $0.045.
remains bearish inside a descending channel and could drop toward $0.12
FLM jumped post-delisting, but bearish divergence suggests the rally may fade
Three altcoins just got the Binance axe, and the market’s reaction couldn’t be more dramatic.
Kadena (KDA) and Perpetual Protocol (PERP) experienced a significant decline, losing a substantial portion of their value within hours.
Flamingo (FLM) surprised everyone, swinging upward in a show of short-term strength.
What’s behind this sudden split? Is FLM’s rebound a fluke, or not? Let’s evaluate each token.
Kadena (KDA)
Binance delists altcoins that consistently exhibit low trading volume, poor liquidity, and insufficient project development, as these assets no longer meet the exchange’s quality standards.
In some cases, it delists assets due to regulatory or security risks, such as non-compliance and potential fraud, to protect user funds and maintain platform integrity.
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With no demand in sight, KDA’s price might reach a new all-time low below $0.045.
However, this trend might reverse if many other exchanges drum up support for Kadena. In that scenario, the altcoin might rise toward $0.20.
Perpetual Protocol (PERP)
PERP, native to the decentralized perpetual futures DEX, Perpetual Protocol, was also one of the altcoins Binance delisted.
Following the recent development, PERP’s price has declined by 14%. Although the altcoin remains at 76% of its record low, which reached 19 days ago, the technical structure still leans bearish.
On the daily chart, PERP continues to trade within a descending channel, indicating persistent downward pressure.
Meanwhile, the Awesome Oscillator (AO) has slipped into the negative region, confirming rising bearish momentum.
If this trend persists, PERP could fall below the channel’s lower boundary, potentially declining toward $0.12.
However, if buying momentum returns and the price breaks above near-term resistance, this bearish outlook may be invalidated, opening the door for a rebound toward $0.28.
Flamingo (FLM)
The last on Binance’s delisting list is FLM, the native token of the decentralized finance (DeFi) platform Flamingo.
Interestingly, instead of plunging, FLM’s price surged by 13.65% following the announcement, climbing to $0.023.
However, such rebounds after delisting news often carry significant risk.
On the daily chart, CCN’s analysis shows that FLM has formed a bearish divergence, a warning signal that the rally may not be sustainable.
This divergence emerged as the Chaikin Money Flow (CMF) turned negative, despite a bullish price movement.
Additionally, the red line of the Supertrend indicator remains above Flamingo’s price, reinforcing the bearish bias.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
