Cryptocurrency exchange Binance has announced plans to delist several tokens, including AirDAO (AMB), Clover Finance (CLV), StormX (STMX), and Vite (VITE).
Reasons for Delisting
Binance conducts regular reviews to ensure that listings comply with established standards. If a token no longer meets these benchmarks or the market conditions change, the exchange may decide to delist it. In this case, AMB, CLV, STMX, and VITE no longer meet the necessary criteria.
What Will Happen to Your Assets
After delisting, users will be able to withdraw their holdings until February 25 at 03:00 UTC. Afterward, deposits and withdrawals of these tokens will not be supported. However, Binance may allow conversion to stablecoins after April 25 at 03:00 UTC.
Market Impact
Binance's announcement has led to significant drops in the value of affected tokens. VITE fell nearly 45% to $0.0045, while AirDAO (AMB) declined by 37% to $0.0025. Last year, AirDAO also encountered a cyberattack resulting in the loss of 126.5 ETH and 41.61 million AMB tokens.
Binance's announcement of token delisting underlines the importance of compliance with listing standards and its impact on the market. Token holders should closely monitor further developments.
