Serum's Conclusion: Binance Delists Final Trading Pair, SRM Price Plummets "Into the Ground"

Binance has decided to delist the final trading pair SRM/BUSD, marking the end of an era for the once-prominent project within the Solana ecosystem.

Serum, once a celebrated DEX platform, had already admitted to being "inactive" since late November 2022, leaving the community deeply nostalgic. The project struggled to recover from the severe impact of the FTX/Alameda collapse, despite efforts to fork the project. Moreover, Binance progressively delisted multiple SRM trading pairs, retaining only SRM/BUSD, which severely limited the token's liquidity.

Since then, half a year has passed, with SRM still trading on a few exchanges but with minimal volume. It's evident that Serum has gradually faded from the community's attention, while Solana contends fiercely with new Layer-1 and Layer-2 projects entering the market.

The final bell has tolled. Binance's decision to delist SRM/BUSD marks the definitive conclusion of this once-thriving project.

Specifically, according to the announcement, Binance will delist SNM, SRM, and YFII at 10:00 AM on August 22, 2023 (Vietnam time).

SRM's price swiftly plummeted over 20%, currently hovering around $0.058 USD.

Chart: 15-minute SRM/BUSD pair on Binance at 03:00 PM on August 15, 2023

Meanwhile, SOL's price remains largely unaffected, fluctuating around $24.9 USD, with a modest 2% increase over the past 24 hours.

Chart: 1-hour SOL/USDT pair on Binance at 03:00 PM on August 15, 2023

Earlier, the community also discovered that Serum's old Twitter handle had been renamed to Luka, engaging in activities to promote memecoins, NFTs, and more.

The fate of a leading DEX within an ecosystem ending in such "heartache" underscores that the crypto landscape is far from an easy profit-making venture. The harsh crypto winter can sweep away all efforts made during the bull season.