NEO price dips 7% as Binance ends support for Neo Legacy Network
The post NEO price dips 7% as Binance ends support for Neo Legacy Network appeared on BitcoinEthereumNews.com.
The exchange has confirmed plans to halt deposits and withdrawals on Neo Legacy. The phase-out will begin on August 25, with a complete shutdown scheduled for October 15. NEO has plummeted amidst community uncertainty. The digital assets landscape endured a bloodbath on Monday as the global crypto market cap plunged 3.27% in the past day to $3.89 trillion. While most assets reflect bear dominance, NEO suffered the most after Binance confirmed it would end support for Neo Legacy. Starting August 25, the leading exchange will no longer support asset deposits through the NEO network and will halt withdrawals by October 15. Binance will cease support for Deposits and Withdrawals of Tokens on the Neo Legacy Network. More information 👇 https://t.co/ePyHc2Wv8j — Binance (@binance) August 18, 2025 Moreover, Binance will not credit any deposits made after the deadline. The announcement magnified NEO’s decline. The alt lost around 7.62% from $6.5012 to an intraday low of $6.0058. Affected tokens The halt decision will impact three key assets: NEO, NeoGas (GAS), and Kepple (QLC). While GAS and NEO holders can use other Binance-supported platforms to transact, Kepple investors encounter a harsher situation. The exchange has advised holders to cash out all QLC before the October 15 deadline. The team emphasized: It is strongly recommended for users holding QLC tokens to withdraw their remaining tokens before 2024-10-15 08:00 (UTC), as transfer of assets will cease after the shutdown. What prompted Binance’s decision The leading trading platform is known for delisting projects that do not meet certain standards. However, Neo Legacy’s case is different. Binance emphasized that the platform’s transition into a more advanced version, Neo N3, triggered the suspension. The Neo Legacy team announced the network’s shutdown in April to focus on the advanced platform “designed to replace Neo Legacy.” The official announcement read:…
