Binance to Delist AirDAO, Clover, and Others on February 24

Binance has announced that it will be delisting several tokens on February 24 as part of its regular review of listed digital assets. Tokens affected by the delisting include AirDAO (AMB), Clover Finance (CLV), StormX (STMX), and Vite (VITE). The decision to remove these tokens follows a review that determined they no longer meet Binance’s required standards for listing.

From February 24 at 03:00 UTC, all trading pairs associated with these tokens, such as AMB/USDT, CLV/BTC, STMX/USDT, and VITE/USDT, will be removed. After February 25, deposits and withdrawals for the affected tokens will no longer be available. However, Binance has provided some relief to users holding these tokens, as they may have the opportunity to convert them into stablecoins after April 25 at 03:00 UTC.

In addition, the Binance Funding Rate Arbitrage Bot will close all arbitrage strategies involving AMB/USDT and STMX/USDT on February 20 at 05:30 UTC and conduct an automatic settlement.

The announcement has had an immediate impact on the value of the delisted tokens. Vite (VITE) experienced the largest drop, falling nearly 45% in a short period following the news, trading at around $0.0045. AirDAO (AMB) also saw a significant decline, with its value dropping by 37% to $0.0025 in the past 24 hours. Over the past month, AMB has lost more than 60% of its value. Clover Finance’s CLV token decreased by over 12%, trading at $0.0417, while StormX (STMX) dropped by 6.5%.

Interestingly, Binance is the largest contributor to the trading volume of these tokens, accounting for over 72% of the trading activity for AirDAO and Vite, according to CoinGecko. This further underscores the potential impact of the delisting on these tokens’ liquidity and market performance.

The delisting decision follows a trend of periodic reviews by Binance, aimed at ensuring that listed tokens meet the exchange’s standards. While some tokens may face removal from exchanges due to underperformance, issues related to hacking, and low trading volumes, this also highlights the volatility and risks associated with holding lesser-known or underperforming cryptocurrencies.

What do you think of Binance’s decision to delist these tokens? Do you believe it’s part of the natural market process, or are the delisting reasons more tied to broader regulatory pressures?