Leading cryptocurrency exchange Binance has announced the delisting of four altcoins, triggering a sharp decline in their prices. As of February 24, 2025, AMB, CLV, STMX, and VITE will be removed from the platform, and users will need to withdraw their tokens by April 24, 2025.
Delisting Timeline and Key Dates
Binance provided a detailed schedule for the delisting process, urging users to take timely action:
- February 24, 2025: Trading pairs will be removed, and all open orders will be automatically canceled.
- February 25, 2025: Deposits for these tokens will no longer be accepted.
- April 24, 2025: Deadline for users to withdraw their remaining balances.
- April 25, 2025: Binance may convert leftover balances into stablecoins, but this is not guaranteed.
Binance recommends users withdraw their assets early to avoid any inconvenience.
Why is Binance Delisting These Tokens?
Binance regularly evaluates the digital assets listed on its platform, ensuring that only those meeting high standards remain available. The exchange cited several factors leading to the delisting of AMB, CLV, STMX, and VITE:
- Performance and commitment of the development team
- Liquidity and trading volume of the token
- Security, stability, and ongoing project viability
- Regulatory compliance and adherence to ethical practices
This decision underscores Binance’s commitment to user safety and maintaining a strong, compliant trading environment.
Market Reaction: Prices Take a Hit
Following Binance’s announcement, the affected altcoins experienced significant price declines:
- VITE: -37.55%
- AMB: -35.55%
- CLV: -9.19%
- STMX: -8.34%
This sharp drop highlights the influence that major crypto exchanges have on market prices.
What is an Altcoin Delisting?
In crypto trading, a delisting occurs when an exchange removes a token from its trading platform, making it unavailable for buying and selling. A delisted asset can no longer be traded on that exchange and is eventually fully removed from the system. However, investors can still withdraw their tokens and transfer them to other supporting platforms.
To mitigate risks, traders should closely monitor exchange announcements and regularly assess the market performance of their investments.
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