In the cryptocurrency world, getting on the list of exchanges as well as getting off is an important event. Since entering the list of an important exchange opens new doors, it generally pushes the price of the relevant token up. Therefore, the opposite is also true. Leading crypto exchange Bybit decided to delist the tokens of 5 altcoin projects. The price of three of them reacted to this decision with a sharp decline.
Bybit delists GNS, CRDS, KOK, CANDY and INTX!
As you follow from Kriptokoin.com, crypto exchanges continue to update their lists. Bybit, a leading crypto exchange, also updated its lists. In this context, the exchange announced that it will remove 5 altcoins from its list. Altcoin projects to be delisted are Gains Network (GNS), Cradless (CRDS), KOK (KOK), Candy Pocket (CANDY) and Intentx (INTX). Bybit stated that it will no longer support these altcoins and will remove the trading pairs from its platform.

Meanwhile, the delist process will be phased. The exchange will no longer support trades after 11:00 a.m. PT on 28 November 2024. It will also automatically delete all orders. In addition, Bybit will remove GNS, CRDS and KOK tokens from Bybit Convert from the same date. The exchange will discontinue deposits from 27 November 2024 at 11 a.m. PT. Also, withdrawals will cease from 27 February 2025 at 11 a.m. PT.
The reaction of altcoin prices was harsh!
Following this development, Cradless (CRDS) price fell sharply. The altcoin price suddenly dropped from $ 0.0015 to $ 0.00087 during the day. The token was still trading close to these low levels at the time of writing. CRDS was changing hands at $ 0.00091 at press time, with a loss of over 33% on a daily basis. Meanwhile, the token’s trading volume interestingly recorded an extraordinary increase of 1,000 per cent. This reflects the intense interest of investors and traders to exit the token.

In addition, the price of KOK (KOK) also saw a notable decline. The altcoin price suddenly dropped to $0.0004 from the $0.00055 level it reached during the day. The token continued to decline afterwards. At press time, KOK was changing hands at $ 0.00034, with a loss of over 11% on a daily basis. According to the level reached by the token during the day, it means a decrease of approximately 38%. Meanwhile, the token’s trading volume saw a significant increase of 101%. This reflects the intense interest of investors and traders to exit the token.

GNS, which remained unlisted, fell more than 3% on a daily basis. INTX also witnessed a decline of up to 1%. Although CANDY did not fall into the red zone, it fell from its intraday peak of $ 0.00162 to $ 0.00081. This indicates a loss of approximately 50% for the altcoin.

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