Binance announces delisting of 4 altcoins, causing sharp decline in AirDAO and Clover Finance

Cryptocurrency exchange Binance has announced that it will remove four altcoins from its platform on Monday, February 24, at midnight (Brasília time). The affected cryptocurrencies are AirDAO (COIN:AMBUSD), Clover Finance (COIN:CLVUSD), StormX (COIN:STMXUSD) and Vite (COIN:VITEUSD).

The decision is part of a periodic review that assesses whether projects meet the exchange's standards. Tokens that fail to meet certain quality criteria, such as active development and network stability, are subject to delisting, according to Binance. Therefore, users who still hold these assets in their wallets should be aware of the deadlines to avoid losses. The affected trading pairs include AMB/USDT, CLV/BTC, CLV/USDT, STMX/TRY, STMX/USDT, and VITE/USDT, which will be deactivated on the scheduled date.

After trading ends, Binance will remove all pending orders and will no longer accept deposits in these cryptocurrencies starting February 25.  After April 24, withdrawals will not be supported.  The exchange also reports that it will be possible to convert the delisted tokens into stablecoins starting April 25.

The delisting announcement caused a sharp drop in the prices of AMB and CLV, in particular.  At the time of writing, AirDAO and Clover were down 33.22% and 11.65%, respectively.