As Bitcoin‘s price hovers at $97,660, crypto exchanges are actively focusing on the delisting of certain altcoins. This article covers the latest move by Coinbase, which involves removing five specific altcoins from its trading platform. The question arises: which tokens are affected and what is the timeline for these changes?
Which Altcoins Are Facing Removal?
The delisting process by significant exchanges can lead to unsettling impacts on altcoin markets. Risk monitoring units often initiate these decisions, sparking concerns about the affected projects’ futures. However, this particular announcement from Coinbase presents a unique scenario.
What Are the Reasons Behind These Decisions?
Coinbase has stated, “We consistently evaluate the assets on our platform to ensure compliance with our standards. Following thorough reviews, we shall cease trading for Galxe (GAL), Litentry (LIT), Mines of Dalarnia (DAR), Orion Protocol (ORN), and PARSIQ (PRQ) at approximately 2:00 PM ET on May 16, 2025.”
The primary reason for delisting GAL, LIT, DAR, ORN, and PRQ is the launch of their new versions. Consequently, the older versions do not align with the current criteria for listing.
These tokens’ order books are now in a limit-only mode, permitting the placement and cancellation of limit orders, with matches possible under these conditions.
Notably, this delisting outcome is not adverse for the altcoins involved. The focus shifts towards supporting the upgraded token versions rather than sticking with the outdated ones.
This strategic change emphasizes the necessity for projects to update regularly and maintain alignment with the latest market standards to remain tradable on prominent platforms.
- Trading for five altcoins will be suspended on May 16, 2025.
- The involved tokens are transitioning due to the emergence of new versions.
- The shift to limit-only mode facilitates order placement while aligning with newer standards.
Keeping informed about these delisting events is crucial for crypto traders, as they can affect both portfolio management and trading tactics. Monitoring and understanding these moves ensure stakeholders are prepared for the potential outcomes on their investments.
