Binance has made a significant announcement that is causing a stir in the crypto world. The popular exchange platform revealed its decision to delist four altcoins from its roster, resulting in a sharp decline in the prices of these tokens.

Set to take effect on February 24 at 03:00 UTC, this move by Binance is aimed at elevating market standards and overall quality.

In an official blog post, Binance disclosed its plans to delist and discontinue trading on all spot trading pairs for the following tokens: AirDAO (AMB), CLV (CLV), StormX (STMX), and VITE (VITE).

The affected trading pairs that will be removed include AMB/USDT, CLV/BTC, CLV/USDT, STMX/TRY, STMX/USDT, and VITE/USDT. Following the announcement, a majority of the tokens experienced significant double-digit losses.

This development is not new in the crypto world, as past delistings on major exchanges have shown to impact token prices drastically. Binance's previous removal of six altcoins in August resulted in substantial declines, and a similar trend was seen in December with three other altcoins.

It's essential for Binance users to be aware of these changes and the implications on their accounts. After trading ceases on February 24, all orders for the delisted tokens will be removed, and the tokens' values will no longer be visible in users' accounts.

Moreover, starting February 25, deposits of these tokens will not be credited, and after April 24, withdrawals of these tokens from Binance will no longer be supported. Users should note that delisted tokens may be automatically converted into stablecoins from April 25 onwards.

Binance also mentioned that perpetual contracts for AMB and STMX will be affected starting February 21 at 09:00 UTC. Traders holding open positions for these contracts are advised to close them before the delisting date to avoid any automatic settlements.