Binance announced plans to delist four altcoins from its product suite on Monday, causing significant price drops for the affected tokens.
The action, which will take effect on February 24 at 03:00 UTC, is another attempt by Binance to enhance market quality.
Four Altcoins Queued for Binance Delisting
In a blog post shared on Monday, Binance announced plans to delist and cease trading on all spot trading pairs for four tokens.
“…we have decided to delist and cease trading on all spot trading pairs for the following token(s) at 2025-02-24 03:00 (UTC): AirDAO (AMB), CLV (CLV), StormX (STMX), and VITE (VITE),” Binance said.
The trading pairs slated for removal are AMB/USDT, CLV/BTC, CLV/USDT, STMX/TRY, STMX/USDT, and VITE/USDT. Following the Binance delisting announcement, most of the tokens recorded double-digit losses.
The turnout is unsurprising, given the price implication of token delistings on popular exchanges. For instance, Binance’s removal of six altcoins in August led to substantial price drops for those cryptocurrencies.
Specifically, PowerPool (CVP) and Ellipsis (EPX) saw 14% and 22% declines immediately after their delisting announcements. Similarly, a recent Binance delisting announcement in December sent three altcoins into free fall, mirroring the latest turnout.
Conversely, token listings on popular exchanges like Binance and Coinbase inspire price surges. As BeInCrypto reported, the Coinbase exchange’s recent move to list POPCAT and PENGU inspired double-digit gains for the tokens.
What Binance Users Should Know
The Binance delisting announcement is part of the exchange’s occasional move to review the performance of its listed trading pairs. Specifically, the exchange analyzes elements such as the level and quality of development activity. It also assesses the network and smart contract stability.
“When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it,” an excerpt in the blog added.
These measures come as Binance looks to ensure the best services and protections for its users. Accordingly, Binance users should know that all trade orders for the tokens marked for delisting will be removed after trading ceases on February 24.
This means the token’s valuation will no longer be displayed in users’ accounts after delisting. Further, deposits of these tokens will not be credited to users’ accounts starting February 25. On the same note, withdrawals of these tokens from Binance will not be supported after April 24. Instead, delisted tokens could be converted into stablecoins automatically starting April 25.
Binance also stated that this delisting action would affect perpetual contracts for AMB and STMX starting February 21 at 09:00 UTC. This means traders holding open positions for these futures contracts should consider closing them before the delisting time to avoid automatic settlement.
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