Binance To Delist These Crypto in BTC Trading Pairs

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As an experienced analyst with a keen eye for market trends and a knack for navigating the cryptocurrency landscape, I find myself intrigued by this recent development at Binance. On one hand, the exchange is delisting certain assets from margin trading pairs, which could potentially impact the trading strategies of many users. However, on the other hand, these same assets are experiencing a surge in value, thanks to the post-election momentum fueled by none other than President Trump’s victory.

On Wednesday, Binance revealed that it will remove certain cryptocurrencies from Bitcoin margin trading markets. This decision affects the margin trading of Qtum and Venus, as well as the spot trading of Contentos and Frax. However, even with this delisting announcement, QTUM has seen an 8% increase in value today, and XVS has gone up by 7.5%. This surge might be due to the post-election market enthusiasm following Donald Trump’s victory.

Binance Delisting Notice for QTUM, XVS, COS, FXS Traders

As per Binance’s announcement, they are going to remove QTUM and XVS from Bitcoin margin trading pairs. This decision is in line with Binance’s aim to simplify services and boost platform performance. The isolated margin borrowing for QTUM/BTC and XVS/BTC will be stopped on November 7 at 06:00 UTC, and the complete removal of these tokens from trading pairs will occur on November 14 at the same time.

In simple terms, when it comes to both combined (cross) and separate (isolated) margin trades, the platform will automatically settle these positions, canceling any remaining open orders in the process. To minimize potential losses, Binance encourages users to close their positions ahead of time and move their assets from Margin Wallets to Spot Wallets. This advice is provided to aid users in navigating this transition more effortlessly.

As a crypto investor, I understand that QTUM and XVS are no longer part of BTC margin trading on Binance. However, it’s important to note that these assets will still be accessible in other non-margin trading pairs, ensuring continuous trading opportunities for users who wish to engage with these digital assets. These changes mirror Binance’s commitment to adapt and respond effectively to the evolving market conditions.

Moreover, Binance is planning to remove the COS/BTC and FXS/BTC trading pairs from their platform on November 8 at 03:00 UTC. This move aligns with Binance’s regular assessments aimed at preserving a top-tier trading experience. Low liquidity and trading volumes are typically key considerations in making such decisions.

Price Movements and Volume Trends Amid Delisting

The recent U.S. election result, with Donald Trump’s victory, has fueled a surge in these coins, reflecting renewed market optimism.

Currently, QTUM’s price stands at approximately $2.32. Today, it reached a low of $2.13 and a high of the same value. While there has been an increase in QTUM’s short-term performance, its price is still lower by around 3% compared to the past week and 5% relative to last month. In the last 24 hours, the trading volume for QTUM was approximately $31 million, and its market capitalization hovers around $244.5 million.

XVS is joining the trend, currently valued at $6.70. It dipped to a low of $6.19 and peaked at the same price point within the last 24 hours. A substantial trading volume of approximately $2.82 million suggests heightened recent attention. On the other hand, COS is priced at $0.0066, and FXS stands at $1.818, both demonstrating significant growth today.

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2024-11-06 16:53