Binance announces the delisting of 9 pairs from the spot market
Binance, one of the world's largest cryptocurrency exchanges, announced the delisting of nine altcoin trading pairs.
This action, scheduled for August 23 at 03:00 UTC, reflects Binance's attempts to improve market quality.
What should Binance users do?
Binance evaluates the performance of its listed trading pairs and removes those that do not meet liquidity and volume criteria. The platform claims that these measures protect users and maintain a high-quality trading environment.
Pairs to be removed include:
ARKM/TUSD
CHZ/EUR
ENA/EUR
FIRO/BTC
IOTA/FDUSD
JOE/TRY
OMNI/BNB
REZ/BNB
SUPER/FDUSD
While this removal affects specific trading channels, it does not remove individual tokens from the platform.
"Users can still trade the basis and quote spot trading pair assets on other trading pairs available on Binance," the trading platform explained.
Therefore, users interested in these pairs should adjust their trading strategies accordingly. It is also important to note that the platform will be suspending spot trading robot services for these pairs at the same time. The exchange advises traders to cancel or update their automated trading to avoid potential financial losses.
It is worth noting that this round of delisting did not immediately impact the market prices of the affected tokens. The stability may be due to the continued availability of these tokens in other trading pairs on Binance, which helps mitigate any negative effects.
However, Binance’s history of token delistings indicates potential volatility. For example, the delisting of six altcoins last week led to significant price drops for those cryptocurrencies. Notably, PowerPool (CVP) and Ellipsis (EPX) saw drops of 14% and 22%, respectively, after their delisting was announced.
Read more: 4 Alternative Crypto Platforms to Binance You Should Know
This trend continued from last month, when tokens such as Dock (DOCK) and Mdex (MDX) saw sharp declines of approximately 30% and 23.65% following their delisting. These incidents highlight the impact of exchange listings or delistings on altcoin valuation.
