As a seasoned crypto investor with years of experience in this volatile market, I’ve seen my fair share of delistings and their impact on various assets. The recent announcement by Binance to delist AVAX and MATIC trading pairs against TUSD has left me feeling cautious, but not entirely surprised.
The prices of AVAX and MATIC have experienced slight downward pressure following Binance‘s decision to delist their trading pairs with TUSD. In its latest round of spot trading audits, Binance announced that it would remove three cryptocurrencies from the TUSD and BTC pairs respectively. Such events can significantly impact asset prices due to market volatility.
Binance Delists AVAX and MATIC’s TUSD Trading Pair
On July 24, Binance revealed changes to its lineup of trading pairs for spot market transactions, effective July 26. The exchange will no longer support the AVAX/TUSD, MATIC/TUSD, and VOXEL/BTC pairs due to insufficient liquidity and trading volumes. Binance emphasized its commitment to maintaining high-quality markets by regularly assessing and removing underperforming pairs.
Crypto exchanges have provided guidelines for users leading up to July 26th. These instructions include preparatory actions, and users can continue trading their relevant tokens on the platform without interruption as other tokens remain untouched.
As an analyst, I would explain it this way: “If a spot trading pair is delisted from Binance, it doesn’t mean users can no longer trade the corresponding tokens on our platform for spot transactions. Instead, they can still execute trades involving the underlying and quoted assets of that pair through other available trading pairs on Binance.”
starting from July 26, Binance intends to discontinue its trading bot service. It is recommended that users wind up all active trading bots for the specified trading pairs prior to this date to prevent potential losses.
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What’s Next?
Removing trading pairs from prominent cryptocurrency exchanges can trigger price fluctuations as investors and traders adjust their portfolios. This latest action could result in volatility for AVAX and MATIC, with potential impact on the wider crypto market. AVAX has experienced a 4.79% decrease over the past 24 hours, diminishing its weekly growth to just 1.5%.
In contrast to MATIC‘s modest 0.77% rise to $0.5313, there was a significant 4% decrease over the last week. Notably, market frontrunners Bitcoin (BTC) and Ethereum (ETH) experienced minor losses as well during this timeframe.
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2024-07-24 12:11