According to information received, AirDAO received an investment of 500 thousand dollars from DWF Labs to ensure the growth of the ecosystem.
Announcing this news from the X account, AirDAO said:
“DWF Labs will provide a $500,000 grant to the AirDAO Ecosystem Treasury to support ecosystem development and our growth as a first-layer blockchain.
The AirDAO Council will use these funds to launch dApps to increase the utility of our ecosystem and create mobile-first DeFi protocols that will improve our users' access to decentralized financial instruments and enhance investment opportunities.
“DWF laboratories had previously agreed on a joint ecosystem development fund of $1 million.”
.@DWFLabs continues to strengthen its commitment to the #AirDAO ecosystem with a $500,000 grant for ecosystem growth. $AMB
In a recent market development, a wallet address known to be associated with Bitcoin investment company Amber Group made a significant move by depositing a total of 10.89 million LDO worth $32.81 million into Coinbase. This strategic maneuver, which occurred about 2 hours ago, necessitates a closer look at the whale’s actions and potential outcomes.
Analysis of Historical Withdrawal and Deposit Transactions: From Binance to CoinbaseWhen examining the transaction history, it is seen that Amber Group carried out a series of withdrawal transactions from Binance during the period of August-December 2023. During this time frame, the average purchase price of the altcoin LDO was $2,076. However, with a notable change in strategy, Amber Group chose to deposit all of its LDO assets into Coinbase at a higher value of $3,014.
The strategic shift from withdrawing altcoin LDO at an average of $2,076 on Binance to depositing at $3,014 on Coinbase has raised intriguing questions about Amber Group’s objectives. Selling the deposited tokens at their current market value could yield a significant increase of 45.1%, amounting to an estimated profit of approximately $10.21 million.
Key Takeaways and ConsiderationsTiming and Market Dynamics: The timing of the deposit into Coinbase is a step in harmony with broader market dynamics. It could also mean a strategic response to evolving conditions. Understanding the context surrounding this move is very important for interpreting Amber Group’s intentions.
Profitability Calculation: The estimated profit of $10.21 million based on current market value highlights the potential gains that can be achieved with strategic moves in the cryptocurrency market. This figure serves as an important metric for assessing the success of Amber Group’s decision.
Whale Watching Strategy: The actions of leading whales, especially those associated with influential organizations like Amber Group, often serve as indicators for other market participants. The decision to deposit tokens into Coinbase could affect market sentiment and trigger other reactions.
Navigating the Crypto Landscape: Implications for InvestorsCrypto investors and enthusiasts need to understand and interpret whale movements to make informed decisions. The strategic shift observed in this case underscores the dynamic nature of the crypto environment, where large transactions can significantly influence market trends.
In conclusion, the recent deposit of 10.89 million LDO into Coinbase by a wallet address associated with Amber Group has added a new element to the crypto narrative. The strategy’s shift from Binance withdrawal transactions to Coinbase deposit transactions indicates a calculated approach potentially influenced by market conditions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
A community-governed layer one blockchain AirDAO has reportedly suffered a hacker attack, resulting in a loss of 126.5 ETH and 41.61 million AMB tokens.
The AirDAO team disclosed in an X post on Mar. 21 that the project had fallen victim to a hacker attack, leading to a loss of 35.2 million AMB tokens and 125.51 ETH from its AMB/ETH Uniswap pool.
The AirDAO team has identified a theft of 35.2m AMB tokens and 125.51 ETH from our AMB/ETH Uniswap pool. We are working with exchanges and relevant authorities to identify the hacker and retrieve all stolen funds. If the hacker returns the funds immediately we will pay a white… pic.twitter.com/lGWrT6ZCWJ
— AirDAO (@airdao_io) March 21, 2024 While the exact method of the attack remains undisclosed, the team revealed that the perpetrator gained unauthorized access “using a social engineering scam with malicious attachments in an email presenting to be one of our known partners.”
“This was an isolated theft of the liquidity pool. This does not affect users’ funds on the AirDAO blockchain or exchanges, and the AirDAO multisig is also unaffected.” AirDAO
In a bid to expedite the recovery process, AirDAO has offered the hacker a white hat hacking fee of 10% if the stolen funds, totaling nearly $870,000, are returned promptly. However, if cooperation is not forthcoming, the team has stated its intention to involve law enforcement. The AirDAO team noted it is “working with exchanges and relevant authorities to identify the hacker and retrieve all stolen funds.”
According to data from PeckShield, the stolen funds have been transferred to various centralized exchanges, including MEXC, KuCoin, and ChangeNOW. Analysts at SlowMist added that some part of the stolen funds also went to Binance and BitMart. At the time of reporting, these platforms had not issued public statements regarding the incident.
Founded in 2022, AirDAO positions itself as a community-governed blockchain and ecosystem of web3 decentralized applications powered by its blockchain network called AMB-NET and its native token, AMB.
AirDAO Loses 35.2M AMB and 125 ETH to a Uniswap Pool Exploit AirDAO suffers an exploit leading to an “isolated theft” on its AMB/ETH Uniswap pool.
Published: March 21, 2024 │ 1:11 PM GMT
Created by Kornelija Poderskytė from DailyCoin
AirDAO has suffered an exploit on one of its liquidity pools. The DAO described the attack as an “isolated theft” of the pool. Efforts to recover the stolen funds are underway. AirDAO, a community-governed L1 blockchain ecosystem, has lost crypto assets worth almost $1 million after suffering an exploit on its AMB/ETH Uniswap pool, the organization said on Thursday.
Without disclosing the exact method of the attack, the AirDAO team said in a statement that the hacker obtained access to the compromised LP through a social engineering scam involving malicious attachments in an email posing as one of the organization’s “known partners.”
AirDAO Suffers a Phishing Scam ExploitIn an X (Twitter) post on March 21, the AirDAO team alerted the crypto community to an “isolated theft” of its AMB/ETH liquidity pool on Uniswap, which resulted in the loss of 35.2 million AMB tokens and 125.51 ETH.
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“We are working with exchanges and relevant authorities to identify the hacker and retrieve all stolen funds. If the hacker returns the funds immediately we will pay a white hat hacking fee of 10%, if the hacker fails to cooperate, we will continue with law enforcement.” The team wrote.Per the current market prices, the stolen crypto assets are worth about $875,393.9 million.
While efforts to recover the stolen funds are underway as intimated by the AirDAO team, blockchain security firm PeckShield noted that the hacker has already transferred the crypto assets to MEXC, ChangeNow, and KuCoin.
Notably, the PeckShield alert reported slightly different figures regarding what was stolen, noting that the hacker made away with 126.5 ETH and 41.61 million AMB. Per PeckShield’s figures, the loss is estimated at $957,669.87.
Noting that it would address the community on the investigation’s process, the AirDAO team said more liquidity will be added to the Uniswap LP “as soon as possible” and that “the worst of the situation is over.”
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AirDAO has announced a theft incident from its AMB/ETH Uniswap liquidity pool. The attack, which led to the loss of $35.2 million AMB tokens and 125.51 Ethereum (ETH), has prompted action from the AirDAO team to mitigate the situation and safeguard stakeholders’ interests.
The AirDAO team has identified a theft of 35.2m AMB tokens and 125.51 ETH from our AMB/ETH Uniswap pool. We are working with exchanges and relevant authorities to identify the hacker and retrieve all stolen funds. If the hacker returns the funds immediately we will pay a white… pic.twitter.com/lGWrT6ZCWJ
— AirDAO (@airdao_io) March 21, 2024 The theft was executed through a social engineering scam, wherein the attacker, using a fake email with malicious attachments, posed as a known partner of AirDAO. This breach enabled unauthorized access to the liquidity pool, culminating in the theft of substantial digital assets. The hacker’s wallet address, identified as 0xFD1754f6Cb9DA53c6F26E3E2eE3DE875CC11C7AA, is now under scrutiny as AirDAO collaborates with exchanges and law enforcement agencies to trace and recover the stolen funds.
The AirDAO’s team has extended an olive branch to the perpetrator, offering a 10% white hat hacking fee for the return of the stolen assets. This offer stands as an incentive for the hacker to cooperate and return the funds voluntarily. Should this approach fail, AirDAO is prepared to pursue legal action to ensure justice and the recovery of the stolen assets.
Exchanges are currently working in conjunction with AirDAO to track and freeze the stolen funds, aiming to prevent further unauthorized transactions. The team has reassured the community that this theft was an isolated event, affecting only the liquidity pool on Uniswap. Importantly, users’ funds on the AirDAO blockchain and exchanges remain secure, and the integrity of the AirDAO multisig wallets is intact.AirDAO aalso announced plans to replenish the liquidity pool on Uniswap promptly.
AUTHOR
Kester is an experienced freelance content writer. His focus is primarily on blockchain technology and cryptocurrency. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media. In addition to being a skilled content writer, Mushumir is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Mushumir enjoys traveling, reading, and playing cricket when he is not writing. He now works as a news and article writer for BlockchainReporter.
Today, Prom has announced that AirDAO is becoming a part of its ecosystem. AirDAO is a community-operated L1 blockchain committed to reshaping the landscape of Web3 through decentralized governance and collective action. Its principal objective is to produce a customer-oriented dream of DeFi.
Prom Integrates AirDAO Into the Ecosystem
We're thrilled to see our ecosystem expanding: we welcome @airdao_io, a community-governed L1 blockchain, on board.
AirDAO is an ecosystem of Web3 projects shaped by collective wisdom via DAO governance. AirDAO's mission is to create a… pic.twitter.com/9Vy3LGjywt
— Prom (@prom_io) May 17, 2024 Prom and AirDAO Partnership Enhances Web3 Scalability By combining exceptional products with a dedicated and diverse community, Prom seeks to make DeFi better for everyone, more accessible, and more suited to the needs of real-world customers. This precisely reflects Prom’s goal to make Web3 technologies more uniform, user-oriented, and disclosed through decentralization.
Through this integration, Prom and AirDAO will contribute their forces to the development of the scalability of next-generation Web3 products. Users will be able to receive more efficient and scalable products of this kind capable of serving a growing number of transactions and users. Prom announced this collaboration on X. DWF labs also appreciated this collaboration and labelled it as an ‘impactful collaboration’. Moreover, it said that it is proud to be a contributor to this collab.
Exciting to see dynamic and impactful collaborations forming within our ecosystem ✨
Proud to have contributed to this 🔥
— DWF Labs (@DWFLabs) May 17, 2024 AirDAO, as mentioned previously, operates based on a decentralized autonomous organization model, implying collective decision-making by the community. This ensures that all developments and management processes are governed by community knowledge and necessity, rendering the ecosystem more integrating and flexible.
By including AirDAO into the ecosystem, Prom will be able to capitalize on AirDAO’s innovative blockchain technology and governance model. This will not only improve the current range of solutions but will also enable numerous exceptional projects to inject success and take-up into the Web3 future.
Furthermore, this partnership signals a joint mission to drive a decentralized future, where users are empowered and informed about their digital assets and activities. AirDAO and Prom have combined their talents and resources to create a more dynamic, inclusive DeFi experience.
Prom and AirDAO Collaboration Set to Redefine Web3 Landscape The collaboration is projected to introduce game-changing innovations in the Web3 sector, offering users more adaptable and dynamic solutions than ever before. The partners are prepared to test the waters of the decentralized frontier like never before and see how far technology can go.
To sum up, the assimilation of AirDAO into the Prom Ecosystem is an important step toward a common goal of decentralization, transparency and friendliness to consumers of the Web3 future. The future of Web3 is optimistic, and the peak of the AirDAO partnership will benefit both the community and the Web3 front in general.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Today, Zealy has announced a partnership with AirDAO and Udao. Zealy is a platform aims to increase the growth and engagement of the community in the Web3 space using the work-2-earn model. This project seeks to develop the powers of all the platforms involved and empowers communities in Web3.
Zealy partnership announcement:
We are taking our investment in to Zealy very seriously, and this is why we are partnering with the very best on the platform. @udao_official have had phenomenal traction in the quest space and are a welcomed partner to the AirDAO ecosystem. We… https://t.co/GkjGy9pb5N
— AirDAO (@airdao_io) May 20, 2024 Zealy Enhances Work-2-Earn Model with AirDAO and Udao AirDAO is a community-governed layer 1 blockchain that uses $AMB token fast progressing in the quest space. Zealy has been able to benefit a lot from AirDAO’s strong dApps ecosystem as the two continue to work closely. Their participation will help in enhancing the growth and development of the community.
Udao is a next-generation AI-driven skills platform on Web3 that will join this venture. Udao is an AI that aims to promote skill growth and learning and is therefore ideal for partnership with Zealy. Collaborating with Udao will help Zealy achieve its vision of creating new opportunities for users to improve themselves and participate in Web3.
Zealy grows Web3 communities by rewarding participation through its work-2-earn model. This approach also involves the users and encourages them with rewards for their participation in the community.
Zealy Encourages Participation in AirDAO and Udao Quests In order to mark this milestone, Zealy begins to hold its partner quests for this campaign. Participants are encouraged to take part in this invite and check out the differentiated possibilities that AirDAO and Udao provide. It ensures a higher societal potential and has more people participating in it actively.
Zealy is determined to continue its vision for growth in the blockchain space. The collaboration with AirDAO and Udao is another milestone for the reach of such a vision. Moreover, it clearly contributes toward a further integration and enhancement of the web3 universe.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
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AirDAO’s $HBR token presale has surpassed expectations, marking a successful launch for the first of three innovative tokens under the Star Fleet Initiative. With significant early participation, the $HBR presale has highlighted the strong demand for AirDAO’s accessible DeFi products, and excitement is already building for the $AST presale, set to launch soon.
$HBR Presale Draws $200K+ Value With the $HBR presale now closed and achieving upwards of 200k USD raised and 5% of the supply sold, early adopters have eagerly embraced Harbor’s flexible liquid staking model. Powered by $HBR, Harbor allows users to earn $AMD and $BOND staking rewards without locking up their assets, providing the freedom to stay liquid while still benefiting from staking gains.
The success of $HBR highlights AirDAO’s commitment to accessible, user-friendly DeFi and establishes a strong foundation as the Star Fleet Initiative progresses toward its next launch.
Up Next: The $AST Presale Following the overwhelming response to $HBR, AirDAO is now preparing for the $AST token presale. $AST will fuel Astra, AirDAO’s decentralized exchange (DEX), designed to make liquidity provision simple and inclusive through single-sided liquidity. Unlike traditional DEXs, Astra allows users to provide liquidity using only one asset, with AirDAO’s treasury supplying the counterpart, eliminating the need for paired assets and making DeFi easier to navigate for newcomers and seasoned participants alike.
The $AST presale offers early supporters another opportunity to secure their position within AirDAO’s expanding ecosystem. With Astra’s potential to make liquidity provision more accessible, AirDAO anticipates strong interest and participation from a community eager to get involved in this next step.
Building on Growth: The Star Fleet Initiative and AirDAO’s Path Forward With 12,000 monthly active users and $4 million in total value locked (TVL) across staking and DEX activities, AirDAO’s growth trajectory is already impressive. Backed by $7.5 million in recent funding and led by a fully doxxed, community-elected council, AirDAO is committed to accessible, community-driven DeFi. The Star Fleet Initiative—featuring the $HBR, $AST, and $KOS tokens—drives this momentum forward, bringing AirDAO closer to its ambitious targets of 20,000 daily users and $50 million in TVL within two years.
With each token designed for a unique DeFi purpose, Star Fleet simplifies and enhances the AirDAO ecosystem: $HBR powers Harbor’s liquid staking, enabling flexible rewards; $AST introduces single-sided liquidity on Astra’s DEX, lowering barriers to liquidity provision; and $KOS supports Kosmos, a bond marketplace and launchpad, giving users accessible entry points into token presales.
Join the Next Wave: $AST Presale Following the outstanding success of the $HBR presale, the $AST presale offers yet another opportunity to get involved early in a rapidly growing Layer-1 ecosystem. With each token launch, AirDAO moves closer to establishing a truly inclusive, community-driven DeFi landscape.
To learn more about the $AST presale and stay updated on AirDAO’s progress, visit the Star Fleet official site and follow AirDAO on X for the latest announcements.
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In a major development, AirDAO has announced partnership with Lunar Strategy. The news was shared on Lunar Strategy’s X account, highlighting their support for AirDAO’s growth and development. Lunar Strategy is an incubator and accelerator that supports the development of crypto projects, relying on experience, contacts, and funding.
Lunar Capital to Support AirDAO with Strategic Initiatives Lunar Capital, which specializes in funding progressive blockchain projects, will back AirDAO with key initiatives. These comprise ecosystem project acceleration and growth and strategic advisory services. This partnership is expected to enhance AirDAO as a community-led L1 blockchain and Web3 ecosystem of decentralized applications ($AMB) hosted on its network.
This has made the organisation to stand out particularly in the recent past as well as have a clear vision in the future. The team unveiled its new 2025 roadmap, which clearly demonstrates the team’s willingness to grow the $AMB ecosystem. They have also built a full DeFi ecosystem solution that comprises of a DEX, a bridge, and staking.
Lunar Strategy Helps AirDAO Drive Web3 Ecosystem Expansion There is no other project like AirDAO that focuses on real community governance. This makes the platform to be more decentralized so that the community members can be in a position to participate in decision making hence they will be trusted. Lunar Strategy’s support means that AirDAO has good opportunities for further development and expansion of the ecosystem. Additionally, this partnership perfectly falls in line with the vision of AirDAO to contribute to the development of the Web3.
Lastly, this partnership is a positive development for both these institutions. Therefore, with the help of Lunar Strategy, AirDAO will be able to maintain the pace of development. Moreover, it will implement the plans for the future outlined in the present document.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
AirDAO, a prominent community-led L1 chain and dApp ecosystem, has announced MAGA Wallet. The release of MAGA Wallet targets to deliver seamless security as well as user-friendly features to enhance consumer experience. The platform disclosed the wallet launch on its official X account.
AirDAO Streamlines Web3 Interactions with MAGA Wallet, Prioritizing User-Friendliness and Security AirDAO pointed out that MAGA Web3 Wallet’s release underscores a landmark achievement to provide users with resilient features and security measures. It introduces social login, rapid wallet creation through QR code or link, and passkey support. These features eliminate the requirement for complex seed phrases as well as technical knowledge.
Parallel to its intuitive onboarding, the new wallet integrates cutting-edge tools such as account abstraction and autosigning for minor transactions. In addition to this, it also enables secure recovery options like recovery mechanisms based on identification. The wallet intends to spearhead the endeavors of AirDAO to increase its ecosystem throughout 2025.
The present features of the MAGA Wallet’s version 1 take into account log-in with the use of social media accounts or emails. This removes the requirement for complicated passphrases or wallet addresses. Additionally, simple login credentials get secure backup on cloud services such as iCloud, guaranteeing easy recovery and access. Apart from that, the wallet also provides a setup procedure without any need for a seed phrase. With this, the consumers can create wallets via QR codes or simple links.
New Wallet Enables Autosigning, Asset Buyouts with Credit Cards, and More As per AirDAO, MAGA Wallet also offers autosigning with automated transfer approvals. This feature streamlines consumer interactions, minimizing the requirement for manual confirmations. Consumers can invite others through referral links, with integration features for centralized exchanges like Binance. Consumers can buy assets straight with credit cards, using partnership-based services to offer smooth experience.
AirDAO asserted that MAGA Wallet focuses on driving wide user engagement as well as liquidity flows in AirDAO. The increased user-friendliness and security that MAGA Wallet provides enhance benefits user interest. Keeping this in view, the year 2025 presents a bullish outlook for AirDAO. Moreover, the version 2 and version 3 provide more cutting-edge features to drive the platform’s broader adoption.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
The leading crypto exchange Binance has announced its decision to delist four major cryptocurrencies: AirDAO (AMB), CLV (CLV), StormX (STMX), and VITE (VITE). The delisting, set for February 24, 2025, has raised concerns about potential price volatility and the broader implications for these tokens.
Binance To Delist Four Crypto; Here’s Why In a recent announcement, Binance revealed its plan to delist the four tokens, sparking market discussions. Notably, the crypto exchange periodically reviews digital assets to ensure they meet its stringent listing criteria. According to the exchange, tokens that fail to maintain high trading volumes, robust security, or active development teams face potential removal.
In its official statement, the exchange outlined several factors influencing the decision, including the commitment of project teams, network stability, regulatory compliance, and overall contribution to a sustainable crypto ecosystem. While Binance did not specify which factors led to the delisting of these four tokens, the move suggests they failed to meet one or more of these criteria.
Meanwhile, this decision underscores the exchange’s proactive approach to maintaining a secure and efficient trading environment.
Trading & Market Sentiment After Binance Announcement The announcement has already triggered uncertainty, with traders and investors fearing a sharp decline in prices. Historically, delisting events often lead to panic selling, liquidity crunches, and a loss of investor confidence. As of now, affected trading pairs include AMB/USDT, CLV/BTC, CLV/USDT, STMX/TRY, STMX/USDT, and VITE/USDT. All trade orders will be automatically removed once trading ceases.
Beyond spot trading, Binance will also halt futures contracts for AMBUSDT and STMXUSDT on February 21, 2025. In addition, Binance Margin, Simple Earn, Auto-Invest, and Gift Cards will discontinue support for these tokens in the days leading up to delisting.
This means traders have limited time to adjust their portfolios, close positions, and withdraw funds before Binance fully removes these assets from its platform. Notably, the exchange has previously removed a key trading pair for VITE, which has also fueled market concerns.
Is AMB, CLV, STMX, & VITE Prices Crash Imminent? The immediate concern is whether these delistings will lead to a major sell-off. While AMB, CLV, STMX, and VITE are not top-tier cryptocurrencies, Binance’s influence on market sentiment is significant.
Having said that, if panic spreads, these low-cap tokens could also face increased scrutiny and selling pressure. However, seasoned investors may see this as an opportunity to accumulate these tokens at lower prices, potentially leading to price swings in the short term.
How These Cryptocurrencies Are Performing? The delisting announcement has already impacted the market sentiment, as evidenced by the recent performances of the tokens. For context, AirDAO price slipped 35% following the Binance announcement to $0.002627, while its one-day trading volume skyrocketed 690% to $10.68 million. It’s worth noting that the crypto has touched a 24-hour high of $0.004167.
AirDAO Price Simultaneously, CLV price plunged nearly 10% to $0.04238 from its 24-hour high of $0.0513, indicating the gloomy sentiment hovering in the market. Following the same trajectory, StormX or STMX price retreated 10% while VITE price plummeted 37% to $0.00495. VITE trading volume rocketed 518% to $5.02 million.
CLV Price This recent retreat indicates how these top crypto exchanges hold a robust influence on the broader market sentiment. In other words, while any positive announcement from these exchanges triggers a rally in the assets’ value, any negative or delisting announcements spark market concerns leading to massive price drops.
Binance plans to remove several tokens from their listings on Feb. 24 after a periodic review reveals they no longer meet the required standards.
In a recent notice to traders, the major crypto exchange declared that it will be removing five tokens from its listings, these include AirDAO, Clover Finance, StormX, and Vite. The decision to delist them comes after Binance’s periodic digital asset review of the tokens.
“When a coin or token no longer meets these standards or the industry landscape changes, we conduct a more in-depth review and potentially delist it,” explained the exchange in a statement.
The four tokens will be removed from Binance listings on Feb. 24 at 03:00 UTC. By then, trading pairs associated with the tokens will also be removed, including AMB/USDT, CLV/BTC, CLV/USDT, STMX/TRY, STMX/USDT, and VITE/USDT.
Deposits and withdrawals for the aforementioned tokens will cease after Feb. 25 at 3:00 UTC. However, Binance does give users some hope that the delisted tokens still held within wallets might potentially be converted into stablecoins after April 25 at 03:00 UTC.
On the other hand, Binance Funding Rate Arbitrage Bot will close all arbitrage strategies and conduct an automatic settlement on the AMBUSDT and STMXUSDT symbols on Feb. 20 at 05:30 UTC.
After the news of the token delisting broke, all four tokens experienced a downturn in value. VITE experienced the worst fall, dropping by nearly 45% mere minutes after the Binance delisting announcement was published. Vite platform’s native token is currently trading hands at around $0.0045.
Similarly, AirDao also experienced a sharp drop after the delisting notice. The token has fallen by 37% to $0.0025 in the past 24 hours. In the past month, AMB has gone down by more than 60%.
Price chart for AirDAO’s token AMB, February 17, 2025 | Source: CoinGecko Last year, AirDAO fell victim to a hacker attack which resulted in a loss amounting to 126.5 ETH and 41.61 million AMB tokens. The stolen funds were later transferred into several exchanges including MEXC, KuCoin, and Binance.
Clover Finance’s token, CLV, saw a decreased of more than 12.3% following the notice. It is currently trading hands at $0.0417. Meanwhile, STMX dipped by only 6.5% after it was delisted from the exchange.
According to CoinGecko, Binance is the largest contributor in trading volume for all four soon-to-be-delisted coins, making up more than 72% of all trading activity for AirDAO and Vite.
