Coinbase to Delist Five Tokens on May 16
- Coinbase to delist five tokens due to upgrades, ensuring compliance.
- Changes affect Galxe, Litentry, Mines of Dalarnia, Orion, and PARSIQ.
- Potential short-term volatility in affected tokens’ market prices.
Coinbase will delist five tokens, including Galxe and Litentry, from its trading platforms on May 16 at 2:00 p.m. ET.
This delisting addresses compliance standards and may trigger short-term market volatility in affected tokens.
Coinbase Delisting Targets Five Obsolete Tokens
Coinbase is set to remove five tokens from its platforms, citing the tokens’ obsolescence. The review process led to this decision, ensuring that only compliant tokens remain listed. “These tokens no longer meet listing requirements due to the release of new versions, making the original iterations obsolete. Trading will be suspended on May 16, 2025, at approximately 2 p.m. ET.”
The involved tokens are Galxe, Litentry, Mines of Dalarnia, Orion, and PARSIQ. These tokens are now in limit-only mode in preparation for their removal from trading.
Delisting May Trigger Market Volatility
The delisting may cause a short-term decline in prices and liquidity for the affected tokens, as similar scenarios have resulted in heightened trading activity. No institutional activities were linked to this delisting.
Crypto trading volumes might experience sudden changes, but there have been no reactions from government bodies or the projects’ official channels regarding this delisting. Coinbase Assets on Twitter
Token Upgrades Prompt Historical Comparisons
Past instances, like the MOVE token delisting, saw significant market reactions. In this case, the delistings relate to token upgrades, not misconduct. For example, Movement Labs faced scrutiny after Coinbase delisted MOVE token, implicating Movement Labs Suspends Rushi Manche Amid Coinbase Delisting, Token-Dumping Scandal.
Experts suggest price volatility likely mirrors past trends, which featured abrupt price drops and trading exits, though no systemic market risks are expected.
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