Binance delists four tokens
Binance to Delist AMB, CLV, STMX, and VITE on February 24, Triggering Price Declines.
Binance announced plans to delist four altcoins—AirDAO (AMB), CLV, StormX (STMX), and VITE—from its spot trading product suite, effective February 24 at 03:00 UTC.
The move is part of Binance’s ongoing efforts to enhance market quality, and it has already triggered significant price drops across the affected tokens.
Key Takeaways
- Delisting Action: Binance will remove all spot trading pairs for AMB, CLV, STMX, and VITE at 03:00 UTC on February 24, 2025.
- Price Impact: Following the announcement, affected tokens recorded double-digit losses, echoing past market reactions to similar actions.
- Review Process: Binance reviews tokens based on development activity, network stability, and smart contract performance, delisting those that no longer meet its standards.
- User Guidance: Post-delisting, token orders will be canceled, and deposits will cease on February 25, while withdrawals will be disabled after April 24, with automatic conversion to stablecoins starting April 25.
Delisting Details and Market Reaction
In a blog post on Monday, Binance detailed its decision to delist the four tokens. The trading pairs scheduled for removal include AMB/USDT, CLV/BTC, CLV/USDT, STMX/TRY, STMX/USDT, and VITE/USDT. This development follows previous delistings; for example, Binance’s removal of six altcoins in August led to immediate declines of 14% and 22% for PowerPool (CVP) and Ellipsis (EPX), respectively. Similarly, a December delisting triggered sharp downturns for three altcoins.
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Twitter Reaction and Expert Insights
“When a token no longer meets rigorous standards, delisting becomes necessary to protect market integrity,” commented an industry insider on X.
This sentiment reflects Binance’s ongoing strategy to ensure robust trading environments and safeguard user interests. The delisting also extends to perpetual contracts for AMB and STMX, with positions set for automatic settlement if not closed by February 21 at 09:00 UTC.
AMB price chart. Source: TradingView
Conclusion and Outlook
Binance’s decision underscores its commitment to maintaining high operational standards amid evolving market dynamics. As trade orders for the delisted tokens are canceled and deposits cease, users are advised to convert or withdraw their holdings promptly. This rigorous review process is expected to bolster overall market quality, though short-term volatility is likely to persist.
Recently we wrote, that a U.S. District Court judge in Washington, D.C., has ordered a 60-day stay on the legal dispute between Binance and the U.S. Securities and Exchange Commission.
