The cryptocurrency market is consolidating after the recent rally, with leading crypto Bitcoin retreating to around $65,000 after surpassing $66,000. In this period, where the atmosphere has turned slightly negative, some negative news has led to sharp declines in the prices of certain altcoins. One of the major Bitcoin exchanges, KuCoin, has announced the removal of 27 altcoins from its platform. As a result of this development, several tokens experienced significant price drops.
KuCoin Delists 27 Altcoins, Some Face Sharp Declines
As reported by The Bit Journal, the market is consolidating over the weekend. In this environment, KuCoin, a leading Bitcoin exchange, decided to delist 27 altcoins from its platform. The exchange cited its “KuCoin Special Treatment Rules” as the basis for this decision. Some of the altcoins removed include SatoshiVM (SAVM), Rare Ball Portion (RBP), RefundCoin (RFD), DSLA Protocol (DSLA), and BOLT Token (BOLT). Other projects like Hourglass Protocol (HGP), hiBEANZ (HIBEANZ), and Polylastic (POLX) were also delisted.
Following this news, several tokens saw significant price drops. One was Polylastic (POLX), which lost nearly half its value. The altcoin dropped by over 48% in a single day. Although it slightly recovered afterward, it continued to trade at these levels.
Another altcoin that saw a steep decline was BOLT Token (BOLT), which fell from $0.0025 to $0.00166 within the day. By writing, BOLT was trading at $0.00177, down more than 25% daily.
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Among other heavily affected altcoins was DSLA Protocol (DSLA). Its price dropped from $0.000306 to $0.000264, a loss of over 10% in one day.
Altcoins such as SAVM, RBP, and RFD also suffered losses exceeding 5%.
Full List of Delisted Tokens
KuCoin’s decision emphasizes how leading exchanges have the power to significantly impact the altcoin market and demonstrates their commitment to maintaining the quality and integrity of the projects listed on their platforms. Altcoin investors and traders closely follow such delisting announcements. Below is the full list of the 27 altcoins that KuCoin has delisted:
- SatoshiVM (SAVM)
- Rare Ball Portion (RBP)
- RefundCoin (RFD)
- Super Rare Ball Portion (SRBP)
- DSLA Protocol (DSLA)
- WinGoal (MLS)
- UTXO (UTXO)
- TribeOne (HAKA)
- BOLT Token (BOLT)
- Hourglass Protocol (HGP)
- hiBEANZ (HIBEANZ)
- hiMOONBIRDS (HIBIRDS)
- hiENS3 (HIENS3)
- hiENS4 (HIENS4)
- hiFRIENDS (HIFRIENDS)
- hiPENGUINS (HIPENGUINS)
- hiSEALS (HISEALS)
- OOFP (OOFP)
- Polylastic (POLX)
- ZOOPIA (ZOOA)
- Calamari (KMA)
- ETGM (ETGM)
- AptosLaunchToken (ALT)
- Vega Protocol (VEGA)
- Mechaverse (MC)
- Metaverse.Network & Bit.Country (NEER)
- Pastel (PSL)
Conclusion
KuCoin’s delisting of these altcoins highlights major exchanges’ influence over the market and how their actions can cause significant movements in altcoin prices. As noted by The Bit Journal, altcoin investors need to stay vigilant to such announcements to protect their portfolios from unforeseen risks.
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
