Deep Dive
1. Binance Delisting (4 July 2025)
Overview:
Binance announced BSW’s removal from spot trading on July 4, citing unmet criteria like liquidity, compliance, and team engagement. The token initially plunged 15% but surged 118% intraday to $0.037, settling at $0.026 (+30% over 24h).
What this means:
The rebound, despite reduced exchange visibility, suggests traders interpreted the delisting as a liquidity squeeze opportunity. However, Binance’s exit removes a major liquidity hub, risking long-term accessibility. (CoinMarketCap)
2. New Roadmap (26 June 2025)
Overview:
Biswap unveiled plans for on-chain governance, tokenomics updates, and user-driven reward voting. This coincided with the Binance delisting announcement, likely driving the price surge.
What this means:
The roadmap addresses historical criticisms of centralization and security (e.g., a 2021 exploit allowing infinite BSW minting). If executed, it could improve decentralization – a bullish signal. However, execution risks remain high given BSW’s 99% drop from its 2021 peak.
3. Toobit Futures Exit (15 September 2025)
Overview:
Toobit will delist the BSWUSDT perpetual contract on September 15, citing safety and performance concerns. Open positions will auto-settle, with trading halted post-deadline.
What this means:
This compounds liquidity challenges after Binance’s exit, narrowing institutional exposure. Derivatives traders may shift to decentralized platforms, but thin volumes could amplify volatility. (Toobit)
Conclusion
Biswap faces existential pressure from exchange exits but counters with governance reforms. The key question: Can its roadmap offset evaporating CEX liquidity, or will DeFi-native adoption determine survival? Monitor BSW’s trading volume and governance participation post-July 4.