Altcoins
Remove News for 4 Altcoins from Crypto Exchange! Lower prices
Cryptocurrency exchange giant Coinbase announced today in its official statement that it has decided to delist four altcoin projects traded on the platform. Altcoins to write off include Circuits of Value (COVAL), Rai (RAI) and Wrapped Ampleforth (wAMPL). According to Coinbase’s statement, the delisting decision was made because these altcoins “did not meet the listing standards” of the platform. These standards cover various factors such as trading volume, liquidity, project progress and general market conditions.
Coinbase removes these altcoin projects
Cryptocurrency Exchange giant Coinbase announced today in its official statement that it has decided to delist four altcoins traded on the platform. This decision caused great repercussions and concerns among cryptocurrency investors. Altcoins to be delisted include Circuits of Value (COVAL), Rai (RAI), and Wrapped Ampleforth (wAMPL).
This movement by Coinbase makes investors nervous. The prices of delisted altcoins fell significantly following this decision. Investors are wondering why the delisting process is carried out, what criteria are taken into account and how this situation will affect them. Over the past 24 hours, COVAL price lost 41% of its value, falling to $0.0105. This represents a 95.8% decline from the all-time high of $0.2508 recorded in January 2022. While COVAL’s current market value was $18.8 million, its daily trading volume reached 7, $44 million, an increase of 2,760%.
What are the details of the delisting process?
The delisting process will take place on July 19, 2024 at 5:00 p.m. CET. From this date, COVAL, RAI and wAMPL will no longer be able to be traded on the Coinbase platform. Existing positions will be automatically sold and refunded to users in United States Dollars (USD). Coinbase made a different decision for the Synthetix (SNX) token. While SNX will be delisted for users operating in New York State, it will continue to be marketed in other regions. This decision was made to comply with New York’s cryptocurrency regulations.
Coinbase’s delisting decision could have a significant impact on the prices of COVAL, RAI and wAMPL. The trading volumes and liquidity of these altcoins were already low, and their delisting could make this situation worse. Delisting is a term that means radiation. In financial markets, it refers to the process of ceasing to trade an asset on the platform on which it is listed. This transaction can take place on different platforms such as stocks and cryptocurrency Exchanges.
The delisting of SNX in New York may negatively affect the liquidity and trading volume of the token. This may pose a risk for SNX, which has a concentrated investor base, particularly in New York. Coinbase’s delisting decision caused a worldwide sensation cryptocurrency walk. This move serves as an important warning for altcoin investors. Investors should trade taking into account that the altcoins they invest in carry a risk of delisting.
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