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Coinbase, the largest cryptocurrency exchange in the US, has just delivered bad news about 6 popular altcoins. Historically, we have seen an increase in delisting announcements before the bull season. However, in this period, exchanges are removing altcoins due to additional costs brought by low trading volumes.
Coinbase Latest Update
According to the latest announcement by the exchange, 6 cryptocurrencies will be delisted on September 23, exactly 1 month from now. BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX) investors should transfer their assets to cold wallets or other exchanges before this date.
Altcoins like VGX have lost their significance after bankruptcy. These types of bankrupt tokens, which attract speculators’ attention, could be rapidly delisted from other exchanges as well. After the delisting of these altcoins, which will have less liquidity, we may observe rapid declines for a while.
Coinbase stated the following in its announcement:
“We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we have decided to disable trading for BarnBridge (BOND), DerivaDAO (DDX), Jupiter (JUP), Multichain (MULTI), Ooki (OOKI), and Voyager (VGX) as of September 23.”
