In the cryptocurrency market, there is a way to get into the list of major crypto exchanges, but there is also a way out! So this business is not one-way. Market players consider getting listed on leading crypto exchanges a matter of prestige. However, the opposite is also true. The first situation can trigger a price pump and naturally the second situation can trigger a crash. Leading crypto exchange Coinbase recently announced that it has delisted an altcoin. Following this news, the token price experienced a cliff drop.
Coinbase delisted, altcoin price fell off the cliff!
‘cryptokoin.com’As you follow from, there is a movement in the crypto market again. The rally initiated by the leading cryptocurrency Bitcoin gained strength with the participation of altcoins. In this process, there were winners and losers. As a matter of fact, Coinbase’s delist news brought a collapse for Moss Carbon Credit (MCO2). Coinbase shared the delisting news on its official X account as follows:
We regularly monitor assets on our exchange to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for Moss Carbon Credit (MCO2) on or around 14:00 UTC on November 14, 2023.
The crypto exchange also stated that it would suspend transactions on Coinbase Exchange and Coinbase Prime. In this context, MCO2 noted that they moved their order books to limit-only mode. Therefore, users emphasized that only limit orders can be placed and canceled and matches can occur. Meanwhile, the altcoin price reacted very strongly to this news. After Coinbase’s delist news, it saw a vertical decline from $1.59 to $1.23. Although it recovered slightly with subsequent purchases, the token was trading at $1.40 at press time, with a loss of 11.52% on a daily basis.
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