Binance crypto exchange has recently disclosed its intention to delist specific key pairs, including BTC, ETH, and BNB, sparking price crash speculations and market reactions.
Binance has recently disclosed its intention to eliminate four trading combinations from its platform. The announcement indicated that the exchange would remove APE/ETH, ATOM/BNB, BAL/BTC, and BNB/DAI. The crypto exchange’s announcement has sparked speculation.
In the interim, the organization acknowledged that this action was a component of their routine evaluations of spot trading pairings, which consider various factors, including liquidity and trading volume. It is important to note that the delisting is scheduled for 3:00 UTC on October 11, 2024.
The exchange stated that this action is consistent with its commitment to ensuring users access a high-quality trading environment.
Furthermore, delisting these pairings will not impact the availability of the individual tokens. In other words, users may continue to trade the base and quote assets through other trading pairs that are still accessible on the platform.
The exchange also recommended that users of its Spot Trading Bots terminate or update their bots for these pairs to prevent potential losses once trading ceases. This is particularly noteworthy.
Impact of Delisting on BNB And Other Prices
The announcement of Binance’s delisting typically ignites various responses in the market. Such announcements from the most prominent crypto exchanges frequently affect investor sentiment.
For example, market optimism commonly results from favorable developments, while decisions such as delisting can exacerbate uncertainty.
However, traders may interpret this delisting as indicating diminished interest or liquidity in the impacted pairs. It can potentially decrease these tokens’ prices in the short term, which could lead to speculation about a potential price collapse.
Nevertheless, delisting spot trading pairs does not necessarily result in a price decline. Despite the possibility of such announcements, investors may choose to disregard them, as the exchange maintains additional pairs of these cryptocurrencies on its platform.
APE’s trading volume decreased by 5% to $50.44 million, while its price was up approximately 0.55% and traded at $0.74 at the time of writing.
Conversely, ATOM’s trading volume decreased by 30% to $78.81 million, and its price declined by approximately 0.5% to $4.35.
Simultaneously, the price of BAL traded at $1.94, near the flatline, following a 24-hour high of $1.96. Ultimately, the cost of BNB increased by nearly 2% to $582.37, and its trading volume increased by almost 30% to $2.29 billion.
