The alternate has confirmed plans to halt deposits and withdrawals on Neo Legacy.
The phase-out will start on August 25, with a whole shutdown scheduled for October 15.
NEO has plummeted amidst group uncertainty.
The digital property panorama endured a massacre on Monday as the worldwide crypto market cap plunged 3.27% prior to now day to $3.89 trillion.
Whereas most property replicate bear dominance, NEO suffered probably the most after Binance confirmed it will finish assist for Neo Legacy.
Beginning August 25, the main alternate will now not assist asset deposits via the NEO community and can halt withdrawals by October 15.
Binance will stop assist for Deposits and Withdrawals of Tokens on the Neo Legacy Community.
Extra info 👇 https://t.co/ePyHc2Wv8j
— Binance (@binance) August 18, 2025
Furthermore, Binance won’t credit score any deposits made after the deadline.
The announcement magnified NEO’s decline.
The alt misplaced round 7.62% from $6.5012 to an intraday low of $6.0058.
Affected tokens
The halt determination will affect three key property: NEO, NeoGas (GAS), and Kepple (QLC).
Whereas GAS and NEO holders can use different Binance-supported platforms to transact, Kepple traders encounter a harsher state of affairs.
The alternate has suggested holders to money out all QLC earlier than the October 15 deadline. The group emphasised:
It’s strongly really useful for customers holding QLC tokens to withdraw their remaining tokens earlier than 2024-10-15 08:00 (UTC), as switch of property will stop after the shutdown.
What prompted Binance’s determination
The main buying and selling platform is thought for delisting tasks that don’t meet sure requirements.
Nevertheless, Neo Legacy’s case is totally different.
Binance emphasised that the platform’s transition right into a extra superior model, Neo N3, triggered the suspension.
The Neo Legacy group introduced the community’s shutdown in April to deal with the superior platform “designed to interchange Neo Legacy.”
The official announcement learn:
As a part of our dedication to advancing Neo’s know-how and focusing our efforts on the long run, we now have made the choice to sundown the Neo Legacy Community.
In the meantime, Binance’s discover stirred the markets because it formalized the tip of Neo’s older system.
Nevertheless, the suspension could possibly be a obligatory step as dealing with two lively platforms usually fragments consumer exercise and liquidity.
Specializing in Neo N3 would possibly type a cleaner ecosystem that may bolster adoption within the coming instances.
What’s subsequent for traders
With the deadlines considerably tight, Neo Legacy customers might have to contemplate three major issues.
Firstly, any deposit accomplished to Binance through Neo Legacy after August 25 will result in asset loss.
Secondly, the alternate will droop withdrawals completely on October 15.
Lastly, lovers ought to watch the native token’s efficiency.
NEO might plummet additional to check key value ranges as traders search readability.
NEO value outlook
The alt displays important bearishness at $6.06.
NEO makes an attempt to recuperate from earlier losses, however indicators sign sellers’ dominance.
The 3H MACD and RSI affirm that bears management of NEO’s trajectory as they depict waning momentum.
Furthermore, the present broad market bias suggests additional value dips for NEO.
