As a seasoned crypto investor with a few battle scars and hard-earned lessons under my belt, I can’t help but feel a pang of unease upon hearing Binance’s latest announcement. The news that they will be delisting and ceasing spot trading pairs for SHIB, LINK, Blur, Memecoin, Metis, NFPrompt, and Osmosis has sent ripples through the crypto community, with traders bracing themselves for potential price drops.
Binance, the biggest crypto exchange globally, announced on Wednesday that it will remove some cryptocurrencies from its platform and halt spot trading for them. The affected digital assets include Shiba Inu (SHIB), Chainlink (LINK), Blur, Memecoin (MEME), Metis, NFPrompt (NFP), and Osmosis (OSMO).
Crypto Exchange Binance To Delist Key Pairs for SHIB, LINK, Others
As a cryptocurrency market analyst, I would rephrase it as follows: According to Binance’s official announcement on June 26, the exchange will disclose the specific crypto pairs that are slated for delisting and the cessation of spot trading for these pairs. The affected pairs will no longer be available for trading as of June 28 at 03:00 UTC.
As a crypto market analyst, I would rephrase it as follows: The crypto exchange is discontinuing support for TUSD pairings with Shiba Inu (SHIB) and Chainlink (LINK), as trading volumes for these pairs have been dwindling. This decision comes in response to Binance’s reduction of support for the TUSD stablecoin, which has led to a decline in usage. However, trading pairs with USDT, TRY, and FDUSD will remain available and unaffected by this change.
As a researcher, I’d convey the information as follows: Starting from June 28, Binance will no longer support the trading of the following pairs: BLUR/FDUSD, MEME/ETH, METIS/FDUSD, NFP/BNB, and OSMO/BTC. These pairs will be delisted from our platform.
“I, Binance, regularly assess all the listed spot trading pairs for the sake of safeguarding users and ensuring a top-tier trading platform. We remove certain spot trading pairs based on various reasons, including insufficient liquidity and meager trading volume.”
I’d like to add that Binance will discontinue their Spot Trading Bot services for the specified trading pairs upon their delisting from the platform.
Shiba Inu, Chainlink Prices To Fall?
As a market analyst, I’ve observed that Binance holds approximately 48% of the global cryptocurrency market share. Previous delisting announcements have historically influenced crypto price movements. With key economic data such as PCE inflation figures and monthly options expiry set to be released this Friday, traders may exercise caution in their investment decisions.
The price of Shiba Inu increased by 3% within the last 24 hours, but later gave back some of those gains. At present, the coin is being traded at $0.00001755. Over the same timeframe, the lowest and highest prices were recorded as $0.0000171 and $0.00001818 respectively. Additionally, the trading volume has decreased by 8% in the preceding 24 hours.
The price of the link increased by 1%, but later gave back some of those gains. Currently, it is close to $14.10, having reached a peak of $14.27 within the past day. Additionally, the number of trades in the last 24 hours has decreased by nearly half.
As a researcher observing the Memecoin market, I notice that the current price hovers around $0.01997, representing a 1.43% increase over the previous 24-hour period. However, trading volumes for Memecoin have decreased during this timeframe.
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2024-06-26 13:22