Bitcoin

<ul><li>Research by analysts at Kaiko reveals a record 3,445 tokens were delisted, doubling figures from the previous year due to market shifts.</li><li>Increased regulatory actions by the SEC have compelled exchanges to withdraw support, mitigating legal risks.</li><li>Bitcoin&#39;s value has been on an upward trend, with a rise of 100% in 2023, reaching $34,500 amid strong market optimism.</li></ul>The cryptocurrency market is experiencing a wave of delistings despite Bitcoin&#39;s remarkable <a href="https://cryptotale.org/bitcoin-price-surges-over-33k-amid-cryptocurrency-market-fluctuations/" rel="noopener noreferrer nofollow">resurgence</a>. Data from Analysts at Kaiko <a href="https://www.bloomberg.com/news/articles/2023-10-24/cryptocurrency-delistings-from-exchanges-are-running-at-a-record-pace-this-year?leadSource&#61;uverify%20wall&amp;sref&#61;3REHEaVI" rel="noopener noreferrer nofollow">revealed</a> that a staggering 3,445 tokens or trading pairs have been delisted or rendered inactive this year, surpassing the total for 2022 by 15% and doubling the figures from the preceding year. Major exchanges such as Coinbase Global Inc. and Binance have removed over 100 tokens this month alone, with Coinbase delisting 80 pairs in October, the highest monthly number since 2021.The decline in trading volume on most exchanges over the past year has been significant. Despite the increasing number of coins, currently exceeding 1.8 million tokens listed on centralized and decentralized exchanges, liquidity has drained from the market due to scandals and bankruptcies, notably the FTX incident. To counter this an analyst at CCData noted, &#34;Eliminating fragmented liquidity offers a better trading experience to users by reducing the spread and slippage&#34;.Regulatory actions have also played a pivotal role in the delisting spree. The US Securities and Exchange Commission&#39;s (SEC) <a href="https://itsa-global.medium.com/19-tokens-that-have-been-flagged-as-securities-by-the-sec-1f05ae7991b7" rel="noopener noreferrer nofollow">designation</a> of 19 tokens as unregistered securities in lawsuits against Coinbase and Binance in June led many exchanges to withdraw support for these tokens, avoiding potential legal repercussions.Read full article at<a href="https://cryptotale.org/cryptocurrency-market-faces-increased-delistings-amid-bitcoins-resurgence/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

Cryptocurrency Market Faces Increased Delistings Amid Bitcoin's Resurgence

CryptoTale

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