As a researcher with extensive experience in the cryptocurrency market, I believe that Binance’s decision to delist certain trading pairs is a necessary step to protect users and maintain a high-quality trading market. The poor liquidity and trading volume on these pairs pose risks to investors and may lead to unfavorable price movements.
As a crypto investor, I’ve noticed Binance expressing potential intentions to remove Shiba Inu (SHIB), Chainlink (LINK), Meme Coin (MEME), and some other trading pairs from their exchange.
Binance moves to protect users
Certainly affected duos include BLUR-FDUSD, LINK-TUSD, MEME–ETH, METIS-FDUSD, NFP-BNB, OSMO-BTC, and SHIB-TUSD. The suspension of these spot trading pair interactions is set to commence on June 28, starting at 3:00 a.m. (UTC).
This decision will leave Binance with other high-volume trading pairs, like USDT, TRY, and FDUSD.
Binance announced that following routine inspections of its listed spot trading pairs, it identified low liquidity and weak trading activity in most of these pairs. Consequently, Binance decided to remove them from the platform, aligning with its commitment to safeguarding users and preserving a robust trading environment.
The removal of certain spot trading pairs from Binance won’t affect the accessibility of the related tokens on the Spot market. Therefore, traders can continue using the base token for spot trades while quoting assets against other available trading pairs on the platform.
SHIB, LINK and MEME register price increase
Despite the announcement of the delisting of their spot trading pair, certain underlying assets continue to thrive.
Currently, LINK is priced at $14.06, representing a 0.54% gain in the previous 24 hours. In contrast, Shiba Inu has experienced greater growth with a surge of 101% in its burn rate today. This development has led to a 1.61% rise in the coin’s value and it is now trading at $0.0000175.
Meme Coin is trading at $0.01991 and is also 1.67% higher than it was the previous day.
Recently, Binance made the announcement to remove trading pairs for Ocean Protocol (OCEAN) and SingularityNET (AGIX) from its platform, just a week prior to this latest update.
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2024-06-26 15:23