It should be noted that Bakkt is not the only trading platform to have experienced some cryptocurrency issues the day before. Last week, we reported on a significant drop in liquidity on top exchange Binance. According to the Kaiko platform, the figure has now dropped markedly, making it relatively easier to influence the rates of popular digital assets like Bitcoin and Etherium.

The experts’ chart allows us to draw disappointing conclusions about the trading volumes at the site. They were primarily affected by the cancellation of zero commissions for popular trading pairs. Accordingly, under these conditions, traders could leave Binance for other platforms that offer commission-free access to trading.

However, it is also important to keep in mind here that a decline in market activity is a typical story for a bearish trend. Still, there is much less reason to get involved in coins during the collapse phases than when the market is strong and rising quickly.

What will happen to cryptocurrencies

The list of tokens for delisting is long, including AAVE, Avalanche, Chainlink, Fantom, Stellar, Tezos and other giants. The full list of coins to be removed is available below in the image from CoinDesk journalists.

And here are the current rates of the top cryptocurrencies along with their hourly, daily and weekly changes in value.

The list of coins included DeFi token Aave, token of popular decentralized exchange Uniswap, cryptocurrency network Cosmos and so on. The reason for the delisting was voiced by speaker Bakkt. Here is one of his quotes that he shared during a recent interview.

Following the closing of the Apex Crypto acquisition and as part of our regular coin listing review process, we have decided to remove a number of trading pairs on the platform. The interests of customers and their consumers are our primary concern, so the revision process ensures that they are best served when we take into account the latest regulatory guidance and industry changes.

As a reminder, Apex Crypto is a cryptocurrency trading platform that provides transaction execution and clearing, as well as offering custodian and tax transaction services. Bakkt acquired Apex Crypto from Apex Fintech Solutions, with the $200 million deal completed just last month. With $145 million of the aforementioned amount to be paid by 2025.

The acquisition of the platform was part of Bakkt’s strategy to phase out individual user services. The company now expects to become more B2B oriented, meaning it will provide services directly to large businesses. Overall, the news of delisting did not particularly affect crypto enthusiasts among the platform’s users, as previously the trading volumes of the aforementioned pairs were insignificant on the scale of the crypto market, which means their removal will not lead to serious negative consequences.

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And unlike in the US, in Europe, things are looking up rapidly with funding for crypto start-ups. All because of the passage of the Comprehensive Crypto Industry Regulation Bill, also known as MiCA. A set of rules to control digital assets and standardise their regulation across the EU has attracted the attention of major investors.

Patrick Hansen, director of EU policy at Circle, said the volume of venture capital investment in European crypto projects has increased “almost tenfold in one year”. He also attributes the new trend specifically to the adoption of the MiCA. Hansen shared a statistic on Twitter that shows that Europe accounted for 48 percent of all venture capital funding for the digital asset industry in the second quarter of 2023. Here’s the relevant image that Decrypt cites.

According to investment firm Rockaway, London boasts one of the best results in terms of crypto venture capital investment, even though the UK is no longer formally part of the EU. The second and third largest cryptohubs went to Zurich and Berlin. Last year, European venture capital funding totalled $5.7 billion.

Unfortunately, globally, crypto fund inflows from big business fell by 82 percent in the first quarter of this year. These are the expected consequences of a tough 2022, during which many seemingly stable cryptocurrencies suddenly went bankrupt.


We don't think it's worth getting upset with the decisions of Bakkt's representatives, as cryptocurrency trading volumes on the company's site weren't the best before. Accordingly, the reputation of the coin market along with its liquidity will not be affected. Well, large traders already have enough opportunities to connect with digital assets on a large scale if they want to.


You can find more interesting information about crypto in our chat room of Future Millionaires. There we discuss other important developments that are affecting the digital asset industry in one way or another and bringing the new bullrun closer.