Bybit to Delist 7 Tokens

Cryptocurrency exchange Bybit has announced plans to remove seven tokens from its platform. The changes will go into effect on March 21, 2025.

Following Bybit's delisting announcement, the prices of the tokens in question dropped significantly.

Bybit to Remove Seven Token Pairs

The exchange announced its decision in a blog post on Monday. All of the tokens that will be removed are low market cap tokens, including the stablecoin Celo Dollar (CUSD).

“We will be removing EVERY/USDT, GG/USDT, CUSD/USDT, BUBBLE/USDT, TAVA/USDT, PLANET/USDT and IRL/USDT trading pairs from our platform and will no longer support these tokens as assets,” the announcement reads.

On Friday, March 21 at 8:00 UTC, Bybit will stop supporting the listed tokens on its spot trading platform. They will also be removed from Bybit Convert, a feature that allows users to exchange cryptocurrencies.

Deposits for these tokens will no longer be accepted as of 8:00 UTC on March 20, 2025. Users will be able to withdraw unsupported tokens from the exchange until 8:00 UTC on June 20, 2025. After that, the platform will disable withdrawals.

Bybit has decided to delist some tokens to ensure a safe and secure trading environment. The exchange emphasized that it regularly reviews all tokens to ensure they meet strict listing standards.

“If a token does not meet Bybit’s strict requirements, the team conducts a detailed analysis and may remove it and the corresponding trading pair,” the blog post said.

The exchange assured that it strives to protect the interests of traders and maintain high quality of assets on the platform.

Delisting upsets altcoins

The delisting has had a negative impact on the prices of most altcoins, especially Rebase GG (IRL), which has lost 41.3% in 24 hours. Reboot (GG) has also suffered, falling 25.0%.

Everyworld (EVERY) has fallen 8.3%, while Imaginary Ones (BUBBLE) has fallen 15.5%, raising concerns among investors. Planet Token (PLANET) has also lost 11.8% over the same period, supporting the overall trend. However, Altava (TAVA) has stood out from the crowd, rising 3.7%, showing resilience even in the overall downturn.

The price drop was not unexpected. Typically, tokens fall in value after they are removed from an exchange. Such a move may indicate a lack of confidence in the asset's potential. In addition, removal from a major exchange may reduce the liquidity of the token. This makes it more difficult to buy and sell, which usually leads to a decrease in price.

Источник: cryptocurrency.tech