Binance Denies Rumors It Will Remove Ethereum (ETH) from Its Platform

Ethereum (ETH) has seen its price fall nearly 13% after briefly touching $2,000. The drop comes as panic spreads over rumors that Binance might remove

Rumors that Binance might be planning to remove Ethereum (ETH) from its platform have sparked panic among crypto traders, leading to a nearly 13% decline in the second-biggest cryptocurrency's price. However, Binance's former CEO, Changpeng Zhao (CZ), has shut down these claims, calling them completely false.

The controversy started when Binance introduced two new community-driven features: ‘Vote to List’ and ‘Vote to Delist.’ These allow users to vote on which tokens should be added or removed from the platform. Soon after, false news spread that Binance was planning to delist Ethereum. This sparked fear among investors, especially Binance users, who feared that such a move could negatively impact ETH's price.

Responding to the rumors, CZ said that anyone who believes the delisting rumors "deserves to be poor." His comment was meant to assure the community that Ethereum remains supported by Binance.

"If you believe the rumors that Binance will delist Ethereum, then you deserve to be poor," CZ said in a comment on X (formerly Twitter). "Don't invest in crypto if you are easily scared by rumors and panic."

However, despite CZ's clarification, Ethereum's price has continued to drop. The cryptocurrency recently lost its support level at $1,900, and analysts now warn that it could decline further. If the downtrend continues, ETH may test the $1,750 level soon, and some experts even predict a possible drop to $1,500.

Still, some traders see this dip as a buying opportunity, and if buyers step in around $1,500, ETH could regain strength and make another attempt to break the $2,000 resistance level.

At the moment, the Relative Strength Index (RSI) is below the neutral 40 mark, indicating that sellers have control.