Recently, the major cryptocurrency exchange Binance announced four trading pairs set to be delisted from the platform. The pairs being delisted include APE/ETH, ATOM/BNB, BAL/BTC, and BNB/DAI. This has always generated a question in the crypto community about binance delist what the reason is behind taking this step and the probable implications left on the market prices. This is of great interest to traders and investors in terms of how it may affect their trading strategies and the way the overall market develops.
Continued Access to Individual Tokens
The company explained that it was part of the normal checks on all the spot trading pairs the company conducts to see, among other factors, the trading volume and the liquidity. The delisting is set for October 11, 2024, at 3:00 UTC. Binance said this would keep a high-quality environment for trading among users. However, they stated that blocking the pairs would not stop users from swapping the base and quote assets. The users will be freely allowed to swap the base and quote assets through other available pairs on the exchange.
Binance also warned its users who operate on spot trading bots and requested them to cancel or update their bots based on such pairs so as to avoid potential losses that may arise from the stoppage of trading.
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Binance Delist: Mixed Market Reactions to Delisting News
It sparked mixed reactions in the market when news broke about Binance delisting. In general, announcements made by major crypto exchanges can affect how investors may feel. While positive news causes optimism, delisting creates uncertainty.
Traders might perceive this as a delisting of less interest or worse liquidity for the affected pairs and, indeed, prices will certainly fall short-term in such a scenario due to delisting, which creates concern about a price crash. The removal of trading pairs however does not necessarily mean that the prices would fall. Although it’s possible, investors tend to ignore such news as the said exchange still has other trading pairs for those cryptocurrencies available.
As of now, the APE price increased to about 1.22% as it traded at $0.74; its trading volume increased by 1% to $51.60 million. On the other hand, the ATOM price went down by almost 0.66% to $4.37, while its trading volume declined by 26% to $78.82 million.
At the same time, BAL’s price was stable with trading at around $1.94 having gone to a 24-hour high at $1.96. BNB rose to nearly 2% with trading at $582.37 and its trading volume to almost 30% of $2.29 billion.
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