Bybit Delists Seven Tokens, Altcoins Plunge Up to 41.3%

Crypto exchange Bybit has announced that it will delist seven tokens from its platform. The changes will take effect at 8 AM UTC on March 21, 2025. The tokens to be delisted are EVERY/USDT, GG/USDT, CUSD/USDT, BUBBLE/USDT, TAVA/USDT, PLANET/USDT, and IRL/USDT. Bybit's decision is part of its ongoing efforts to maintain a healthy and secure trading environment. The exchange regularly reviews all listed tokens to ensure they meet its stringent listing requirements. If a token fails to meet these requirements, Bybit conducts an in-depth review and may delist the token and its trading pair. The goal is to protect traders' interests while maintaining the quality of assets available for trading on the platform.

Starting Friday at 8 AM UTC, Bybit will no longer support the tokens on its spot trading platform. The affected tokens will also be removed from Bybit Convert, a feature that allows users to exchange between cryptocurrencies. Deposits for the tokens will stop being accepted after 8 AM UTC on March 20, 2025. Users will have a grace period to withdraw delisted tokens before the platform disables withdrawals at 8 AM UTC on June 20, 2025.

The delisting has negatively impacted most altcoins, with the steepest declines seen in Rebase GG (IRL), which plunged 41.3% over the past 24 hours. Following it was Reboot (GG), which experienced a significant fall of 25.0%. Everyworld (EVERY) dropped by 8.3%, while Imaginary Ones (BUBBLE) saw a decline of 15.5%, reflecting investor concern. Planet Token (PLANET) depreciated by 11.8%, adding to the trend. However, Altava (TAVA) was an exception, showing an increase of 3.7%, indicating some resilience despite the broader downtrend.

The price decline comes as no surprise. Token prices tend to drop following exchange delistings, likely signaling a lack of confidence in the token’s future viability. Furthermore, removal from a major exchange can reduce the token’s liquidity, making it harder for traders to buy or sell, which typically results in a price drop. Bybit's decision to delist these tokens is a reminder of the importance of due diligence and the risks associated with investing in cryptocurrencies. Traders should stay informed about the tokens they invest in and be prepared for potential changes in the market.