SUI, HMSTR and These Crypto Tumble After Binance Delisting Announcement

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As a seasoned researcher with years of experience in the cryptocurrency market, I find myself closely following Binance‘s decisions, and their recent announcement to delist five underperforming trading pairs has caught my attention. While it’s always disheartening to see tokens like Sui, Hamster Kombat, Bancor, Cyber, and Anchored Coins facing the chopping block, I understand that these moves are part of Binance’s commitment to maintaining a high-quality trading environment for its users.

Binance is planning to remove some tokens from its platform due to their poor performance. These include Sui (SUI), Hamster Kombat (HMSTR), Bancor (BNT), Cyber (CYBER), and Anchored Coins (AEUR). Lately, these tokens have suffered significant price declines following the announcement, with SUI falling by 6%, HMSTR dropping by 10%, and others experiencing a drop of between 5% to 10%. This downturn in value indicates low liquidity and trading activity, leading Binance to make this move to enhance the overall user trading experience.

Nevertheless, although these tokens have been removed from direct listing, they can still be traded on Binance via active trading pairs. The platform is committed to upholding market effectiveness and ensuring users continue to have access to sought-after assets, despite the current volatility in prices.

Binance Announces Delisting of Five Spot Trading Pairs

On December 18th, Binance announced it would remove five underperforming trading pairs from its platform, following regular reviews of the market. The exchange stressed that this action supports its mission to provide a top-tier trading environment for its users. Binance regularly assesses all listed pairs considering factors like liquidity, trading volume, and overall market performance to deliver an optimal user experience.

The following trading combinations will no longer be available as of December 20th at 3:00 UTC: SUI/TUSD, HMSTR/BNB, BNT/ETH, CYBER/TUSD, and AEUR/EUR. However, you can still trade the underlying tokens – Sui, Hamster Kombat, Bancor, Cyber, and Anchored Coins – using other available trading pairs on Binance.

Furthermore, the leading cryptocurrency exchange plans to discontinue its Spot Trading Bot services for certain pairs simultaneously. It’s recommended that users update or withdraw their trading bots in a timely manner to prevent possible losses. This action highlights their dedication to protecting users and enhancing market efficiency by refining their trading options.

Major Price Drops Across SUI, HMSTR, and Other Tokens

In the past day, the price of SUI dipped by 6%, currently sitting at $4.49. However, it has seen a significant increase over the last week, rising by 22%, and over the past month, with a gain of 19%. The lowest and highest points in its 24-hour range were $4.45 and $4.86 respectively.

Over the last 24 hours, Hamster Kombat (HMSTR) experienced a steeper 10% decrease, now trading at $0.0029. The token has also decreased by 23% in value over the past month. Currently, HMSTR’s market capitalization stands at $193 million, with a 24-hour trading volume of $43 million.

Bancor’s token (BNT) dropped by 5%, currently valued at $0.811. Cyber’s token (CYBER) decreased by 6%, with a current price of $4.3. Similarly, Anchored Coins (AEUR) experienced a 10% drop, trading at $0.88. It’s worth noting that these declines suggest the significant impact of trading activity among market participants on the exchange.

Beyond what’s already stated, it was announced on December 25 that Binance would be removing support for the tokens Kaon (AKRO), Bluzelle (BLZ), and WazirX (WRX). Based on recent evaluations, Binance will halt trading on all spot markets associated with these tokens at 03:00 (UTC) on the specified date.

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2024-12-18 12:26