The delisting of cryptocurrencies from exchanges has as much impact on prices as their listings. Today, Coinbase delivered bad news to the crypto community. The listing of altcoins on exchanges leads to price increases for them. Moreover, altcoins that have access to more liquidity find opportunities for stable growth. But what happens when the opposite occurs?
Cryptocurrency Delisting Announcement
Those who were interested in cryptocurrencies in 2017 will remember that many altcoins on the Binance exchange are no longer with us. It turns out that delisting altcoins from major exchanges is not a good thing at all. When the altcoin you invested in gets delisted and suddenly goes to the trash bin of history, all you feel is pain. Therefore, you should constantly monitor the volume status of the altcoins in your portfolio, the team’s interest in the project, and give importance to risk analysis.
Coinbase just announced that they will delist 5 cryptocurrencies as a result of their observations. The delisting process will take place on November 3rd.
So, which altcoins will be delisted?
- Crypterium (CRPT)
- MXC (MXC)
- Quantstamp (QSP)
- Ren (REN)
- TE-FOOD (TONE)
The price of altcoins has naturally started to decline. Low-volume altcoins are a burden for exchanges, especially in bear markets. Exchanges that want to get rid of the MM expenses and other burdens of these altcoins make delisting decisions. Binance and Coinbase have been doing this frequently for a few months now.
