According to its official announcement, Coinbase will delist the Status (SNT) altcoin from its platform on February 23.
In its statement, Coinbase cited the reason for its delisting decision as the fact that it regularly checks whether altcoins comply with listing standards. According to this statement, SNT no longer meets Coinbase's listing standards.
In the statement, the date of stopping the trading transactions required for the delisting transaction in question was determined as approximately 22 February 2024 (UTC+3).
Following the development, there was a sudden decrease in the price of SNT. The altcoin lost approximately 3% of its value within minutes. SNT, which has a market value of $150 million, was listed on major cryptocurrency exchanges such as Binance, OKX and Upbit, as well as Coinbase.
It is not clear exactly what caused Coinbase to delist this altcoin.
*This is not investment advice.