Delist News for 4 Altcoins from the Giant Crypto Exchange! Price down

Cryptocurrency exchange giant Coinbase announced in its official statement today that it has decided to delist four altcoin projects running on the platform. Altcoins to be delisted include Circuits of Value (COVAL), Rai (RAI) and Wrapped Ampleforth (wAMPL). According to Coinbase’s statement, the delist decision was made because these altcoins “did not meet the listing standards” of the platform. These standards cover various factors such as process volume, liquidity, project progress and general market conditions.

Coinbase delists those altcoin projects

Cryptocurrency exchange giant Coinbase announced in its official statement today that it has decided to delist four altcoins traded on the platform. This decision caused great repercussions and alarm among cryptocurrency investors. Altcoins to be delisted include Circuits of Value (COVAL), Rai (RAI) and Wrapped Ampleforth (wAMPL).

This move by Coinbase makes investors uneasy. The prices of the delisted altcoins dropped significantly due to the impact of 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. In the last 24 hours, COVAL price lost 41% and fell 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 at 18.8 million dollars, its daily transaction volume increased by 2,760% and reached 7.44 million dollars.

What are the details of the Delist process?

The Delist process will take place on July 19, 2024 at 17:00 CET. As of this date, COVAL, RAI and wAMPL will not be able to be traded on the Coinbase platform. Existing cases will be automatically sold and refunded to users in US 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 operate in other regions. This decision was made to comply with New York’s cryptocurrency regulations.

Coinbase’s delisting decision could significantly impact the prices of COVAL, RAI, and wAMPL. The trading volumes and liquidity of these altcoins were essentially low, and the delist process could worsen this situation. Delist is a term that means to remove from the list. In financial markets, it refers to the process of terminating an asset from the platform on which it is listed. This process can take place on different platforms such as stock and cryptocurrency exchanges.

Delisting SNX in New York may negatively affect the liquidity and transaction volume of the token. This could pose a risk for SNX, which has a heavy investor base, especially in New York. Coinbase’s delist decision caused a stir in the cryptocurrency market. This decision is an important warning for altcoin investors. Investors should take into consideration that the altcoins they invest in carry delist risk.