Binance Delistings Reveal FDV and Open Interest Trends

Binance has been busy delisting tokens and perpetual contracts in recent months. Between February 17, 2022, and August 11, 2026, a total of 144 spot tokens were removed from the platform, with 42 removals occurring in 2026 alone.

This year's pace of delistings far surpasses any full year since 2022. The announcements for these removals have been arriving at a rate of about once every 28 days in 2026, compared to every 52 days in 2025. Spot and perpetual markets exhibit different patterns when it comes to delistings.

Sixty-one percent of the spot tokens removed in 2026 had a fully diluted valuation (FDV) below $10 million. In contrast, none with an FDV above $100 million were removed. The median FDV for removed spot tokens was $10.53 million compared to $56.88 million for those that remained listed.

The same trend is seen when looking at open interest (OI). Perpetual contracts with OI below $1 million had a 31% removal rate, while none above $20 million were removed. The median OI was $1.21 million among removed perpetual contracts and $3.13 million among those that remained listed.