Coinbase Delists Six Altcoin Pairs; AXS-BTC Limit-Only
Coinbase delists six low-liquidity altcoin trading pairs—MASK-USDT, MASK-EUR, MINA-USDT, GMT-USDT, AXS-BTC and SNX-BTC—effective October 30, 2025 (00:00 Beijing time). Coinbase delists these pairs to consolidate liquidity amid declining trading volumes and order-book depth. Affected tokens (MASK, MINA, GMT, AXS and SNX) remain tradable on USD-denominated order books via Coinbase Advanced. Additionally, the AXS-BTC pair will shift to limit-only mode on both coinbase.com and Coinbase Exchange, allowing order placement and cancellation but blocking market orders. Following the announcement, MASK jumped 5%, GMT gained 1% and AXS dipped 2%, highlighting potential volatility. Traders should review alternative pairs and prepare for liquidity shifts.
Bearish
The delisting announcement is likely bearish for the affected altcoins. By removing USDT and EUR pairs, liquidity will concentrate in USD order books, potentially widening spreads and reducing trading depth. Short-term volatility is expected as traders adjust positions and migrate to alternative pairs, squeezing liquidity. While the tokens remain tradable on Coinbase Advanced, the limit-only mode for AXS-BTC restricts market orders, which can dampen trading volumes and price momentum. Over the long term, reduced accessibility may hamper growth in trading interest, maintaining downward pressure on token prices.