The cryptocurrency market is surprisingly witnessing an unprecedented wave of altcoin delistings and inactivity. According to a recent report from Bloomberg, data from crypto market data provider Kaiko reveals that a staggering 3,445 tokens or trading pairs have either been delisted or remain inactive since the beginning of 2023. This marks a significant increase compared to previous years and paints a grim picture for these crypto assets. Here are the details…
Many altcoins went delist in 2023
The cryptocurrency market has always been known for volatility, but the recent trend of delistings has surprised many. This wave of lifts is setting new records. 15% more tokens were delisted in 2023 compared to all of 2022. This number is even more surprising when compared to 2021. Because it is twice the amount of delistings that occurred the previous year. Despite Bitcoin’s remarkable resurgence and renewed interest in cryptocurrencies, Coinbase Global Inc. Various exchanges, including major players like and Binance, are actively pruning their lists of tradable assets.
The reasons behind these delistings vary, but a common theme appears to be prolonged inactivity and increased uncertainty surrounding certain tokens. Kaiko’s data provides valuable insight into the evolving cryptocurrency landscape. It highlights the fact that not all crypto assets can withstand the challenges of market turbulence. The increase in delistings is a stark reminder of the risks involved in investing in cryptocurrencies. Investors and traders need to be careful and conduct thorough research before engaging in any altcoin or trading pair.
What is the trend of the cryptocurrency market?
This ongoing trend raises important questions about the long-term viability of many cryptocurrencies. Are these tokens truly valuable assets or speculative tools that can easily fall out of favor in an ever-changing market? It also underlines the need for better regulation and industry standards to ensure a more stable and reliable altcoin market.
As a result, the cryptocurrency market is experiencing an unprecedented increase in delistings and inactivity, facing the removal of 3,445 tokens or trading pairs in 2023 alone. This worrying trend is a clear sign that all cryptocurrencies are experiencing market turbulence. Investors and stakeholders must remain vigilant and make informed decisions as the market continues to evolve. The fate of these crypto assets serves as a reminder of the challenges and uncertainties associated with the cryptocurrency world.
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