Coinbase Takes Action: MOVE Coin Gets Delisted

Cryptocurrency exchanges have been showcasing frequent new listings over recent months, a trend that diverges from typical bear market behavior where low-volume altcoins are swiftly purged. These ongoing listings suggest an impending bull market, though it doesn’t eliminate the possibility of future delisting.

Consequence of Delisting

When major exchanges announce delistings, it considerably damages the affected altcoin ‘s reputation. Such announcements usually highlight issues identified by risk monitoring teams. Today, Coinbase has declared a delisting notification for MOVE Coin, stirring concerns within the crypto community.

Risk evaluation teams within exchanges assess factors such as development, team performance, trading volume, and on-chain metrics. Based on these assessments, they make decisions to delist. Coinbase’s statement read:

“We routinely monitor the assets on our platform to ensure they meet our listing standards. Based on recent reviews, we will suspend trading for Movement (MOVE) on May 15, 2025, at or around 14:00 ET.

MOVE trading will be suspended across Simple and Advanced Trade, Coinbase Exchange, and Coinbase Prime. We have switched our MOVE order books to limit-only mode. You can place limit orders.”

The upcoming mid-month delisting by Coinbase might prompt other exchanges to initiate evaluations of MOVE Coin.

MOVE Coin Valuation

Binance ‘s watchlist has previously seen intriguing surges in altcoins, with some reaching all-time highs due to speculative trading. It’s uncertain whether MOVE Coin will experience a similar situation; however, such market movements have become somewhat expected based on recent experiences.

Meanwhile, Binance’s decision to add MOVE to its watchlist contrasts with Coinbase’s direct assessment that deems MOVE a risk, leading to its delisting. These actions represent differing methodologies between the exchanges.

Following the initial announcement, MOVE Coin dropped 20% in price. Although it was listed by centralized exchanges only in December 2024, its value plummeted by 85% over 142 days, continuing to hit new lows, a troubling sign for MOVE.

This challenging period has exacted heavy losses on altcoins, inflicting potentially fatal impacts on MOVE. It remains to be seen if other centralized exchanges will follow suit with Coinbase’s decision.