Coinbase is set to delist five tokens from its platform on May 16, 2025, at 2:00 p.m. ET.
Coinbase Targets Obsolete Tokens
Coinbase has announced its intention to delist five tokens, including Galxe, Litentry, Mines of Dalarnia, Orion, and PARSIQ. This decision is related to the tokens no longer meeting listing standards due to the release of new versions, making the original iterations obsolete. Trading for these tokens will be suspended on May 16, 2025, at 2:00 p.m. ET.
Potential Market Volatility
The delisting may trigger a short-term decline in prices and liquidity for the affected tokens, as similar scenarios in the past have resulted in increased trading activity. Currently, there is no information indicating any institutional activities linked to this delisting, and crypto trading volumes may experience sudden changes.
Historical Comparisons
Historically, instances like the MOVE token delisting have seen significant market reactions. In this case, the delistings are related to token upgrades and not misconduct. Experts suggest that price volatility may mirror past trends, which featured abrupt price drops and trading exits, although no systemic market risks are expected.
Thus, Coinbase continues to uphold compliance standards by removing obsolete tokens and focusing on maintaining the quality of its trading platform.
