Coinbase announced the delisting of Helium Mobile (MOBILE), Render (RNDR), Ribbon Finance (RBN), & Synapse (SYN) on June 26, leading to significant price declines in these assets.
Prices of RNDR, RBN, and SYN dropped by double digits, with SYN experiencing the largest decline at almost 15%.
Delisting by Coinbase can result in reduced liquidity, investor fear, damaged reputation, and increased selling pressure for the affected assets.
Contrarily, prior listings by Coinbase have triggered notable price increases, with certain tokens surging over 100% shortly after being backed by the exchange.