Key Highlights:
- Due to non-compliance with listing requirements, Coinbase announces the delisting of five coins.
- A total market worth of $60 million is held by the affected coins, which include CRPT, MXC, QSP, REN, and TONE.
- Investors may withdraw their money without fear after being delisted, according to Coinbase.
Coinbase, the largest US-based centralized cryptocurrency trading platform, has made a significant move that could impact various assets trading on its exchange. In a recent statement on the X platform (formerly Twitter), Coinbase announced its plans to delist five cryptocurrencies from its trading platform.
Coinbase: Delisting Announcement
Coinbase Exchange recently took a decisive step to delist five cryptocurrencies with a combined market valuation of $60,805,937. The exchange, in a statement on the X platform, revealed that it routinely monitors the assets on its platform to ensure they meet listing standards. This proactive approach ensures that the platform remains a trusted space for investors.
Cryptocurrencies in Question
The cryptocurrencies facing delisting are Crypterium (CRPT), MXC (MXC), Quantstamp (QSP), Ren (REN), and TE-FOOD (TONE). Notably, MXC holds the largest market share among these, with a market valuation of $15 million. These digital assets have fallen short of Coinbase’s outlined listing standards, leading to their removal from the platform.
Source: Coinbase
Coinbase: Effective Delisting Date
The removal of these tokens from Coinbase’s US-based trading platform will take effect on Friday, November 3, 2023. Investors holding these tokens need not worry about losing their investments. Coinbase assured users they could retain access to these cryptocurrencies, safeguarding their financial interests.
Platform Support By Coinbase
Coinbase also specified which of its platforms would no longer support CRPT, MXC, QSP, REN, and TONE. These platforms include Coinbase.com (Simple and Advanced Trade), Coinbase Pro, Coinbase Exchange, and Coinbase Prime. By offering this information, Coinbase empowers its users to stay well-informed about the changes and make essential adjustments to their trading strategies.
Until the delisting date arrives, Coinbase has taken the step of placing the order books of four digital assets in “limit-only” mode. This allows for the placement and cancellation of limit orders, with the possibility of matches occurring. This measured approach is designed to facilitate a smooth transition for traders who may still be active in these markets.
Conclusion
Coinbase’s commitment to upholding high listing standards drives its decision to delist these five digital assets. This move mirrors the exchange’s dedication to quality and compliance. Investors can rest assured that their investments will remain accessible for withdrawal. The delisting will be effective on November 3, 2023, and until that time, trading of these assets is restricted to “limit-only” mode.
Disclaimer
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is the opinion of the author and does not reflect any view or suggestion or any kind of advice from CryptoNewsBytes.com. The author declares he does not hold any of the above-mentioned tokens or receive any incentive from any company.
