In a blog post shared on Monday, Binance announced plans to delist and cease operations on all spot trading pairs for four tokens.
“…we have decided to delist and cease trading on all spot trading pairs for the following token(s) on 2025-02-24 03:00 (UTC): AirDAO (AMB), CLV (CLV), StormX (STMX), and VITE (VITE),” said Binance here.
The trading pairs scheduled to be removed are AMB/USDT, CLV/BTC, CLV/USDT, STMX/TRY, STMX/USDT, and VITE/USDT. Following Binance's delisting announcement, most tokens recorded double-digit losses.
The outcome is not surprising, given the impact on the price of tokens delisted from popular exchanges. For example, the removal of six altcoins by Binance in August led to substantial price drops for those cryptocurrencies.
Specifically, PowerPool (CVP) and Ellipsis (EPX) saw drops of 14% and 22% immediately after their delisting announcements. Similarly, a recent delisting announcement from Binance in December sent three altcoins into free fall, reflecting the latest outcome.
In contrast, token listings on popular exchanges like Binance and Coinbase inspire price increases. As BeInCrypto reported, the recent move by Coinbase to list POPCAT and PENGU inspired double-digit gains for the tokens.
Binance's delisting announcement is part of the exchange's occasional move to review the performance of its listed trading pairs. Specifically, the exchange analyzes factors such as the level and quality of development activity. It also assesses the stability of the network and smart contracts.
“When a coin or token no longer meets these standards or the industry landscape changes, we conduct a deeper review and potentially delist it,” added an excerpt in the blog.
These measures are being taken while Binance seeks to ensure the best services and protections for its users. Consequently, Binance users should know that all trading orders for the tokens marked for delisting will be removed after trading ceases on February 24.
This means that the token valuation will no longer be shown in users' accounts after the delisting. Additionally, deposits of these tokens will not be credited to users' accounts starting February 25.
On the same note, withdrawals of these tokens from Binance will not be supported after April 24. Instead, the delisted tokens could be automatically converted into stablecoins starting April 25.
Source:https://es.beincrypto.com/binance-deslistado-perjudica-4-altcoins/
