Binance Will Delist 23 Trading Pairs, Shiba Inu and Dogecoin are Affected
TL;DR
Binance announced it will delist 23 margin trading pairs, including prominent ones like ADA/BUSD and the memecoins DOGE/BUSD and SHIB/BUSD, on November 9, with automatic closure and settlement of positions for these pairs.
The delisted pairs are all denominated in BUSD, a stablecoin for which Binance will end support by early 2024, advising users to convert their BUSD holdings before February 2024.
This move follows a previous delisting of several BUSD pairs in October, with Binance citing the need to protect users and ensure quality trading markets due to factors like poor liquidity and volume.
Binance Removes More Trading Pairs
The world’s largest cryptocurrency exchange – Binance – revealed that it will delist 23 margin trading pairs, including ADA/BUSD, APE/BUSD, AVAX/BUSD, BCH/BUSD, DOT/BUSD, LTC/BUSD, MATIC/BUSD, and more on November 9.
Interestingly, the two biggest memecoins by market capitalization – Dogecoin (DOGE) and Shiba Inu (SHIB) – are also affected by the removal of DOGE/BUSD and SHIB/BUSD.
“Binance Margin will close users’ positions, conduct an automatic settlement, and cancel all pending orders on the aforementioned cross and isolated margin pairs. These pairs will then be removed from Margin. Users can still trade the above assets on other trading pairs that are available on Binance Margin,” the company explained.
It’s worth mentioning that all of these are BUSD trading pairs, and the marketplace had previously revealed that it will discontinue support for the stablecoin at the beginning of 2024. Binance has advised users to convert their BUSD holdings to other assets prior to February 2024.
The Previous Delisting Spree
The company removed several trading pairs last month, too. It delisted 1INCH/BUSD, AERGO/BUSD, ANKR/BUSD, RARE/BUSD, SLP/BUSD, SUSHI/BUSD and 13 more on October 6. The exact reason for the initiative remained undisclosed, with Binance stating:
“To protect users and maintain a high-quality trading market, Binance conducts periodic reviews of all listed spot trading pairs and may delist selected spot trading pairs due to multiple factors, such as poor liquidity and trading volume.”
The post Binance Will Delist 23 Trading Pairs, Shiba Inu and Dogecoin are Affected appeared first on CryptoPotato.
Filed under: Bitcoin - @ November 2, 2023 8:15 pm