Shocking Event Altcoin Delisted by Coinbase! Its Price on Binance Dropped Sharply!

An interesting situation has occurred with Wrapped Bitcoin, which was launched in 2019 to provide Bitcoin investors with the option to use the asset in decentralized financial applications.

The price of Wrapped Bitcoin on Binance plummeted on November 23, falling to an all-time low of around $5,200.

While the price of WBTC on Binance suddenly plummeted, its price on other exchanges remained unaffected.

The price of WBTC returned to normal in a short period of time, reaching market standards.

While it is not clear what caused the sudden drop, experts believe that low liquidity may have played a role in this sudden crash. Experts speculate that the massive market sell orders entered regarding the event may have caused the sudden drop in price due to low liquidity. Because such events can lead to short price crashes and sudden price fluctuations.

Coinbase Delisted!

As you may remember, Coinbase recently announced that it will delist Wrapped Bitcoin.

The sudden price crash came just days after Coinbase announced the delisting of WBTC, with the exchange stating that they made the decision to delist WBTC because it did not meet the listing criteria under regular review.